PORTLAND, Ore. — Spot truckload freight volume increased 1.2% during the week ending August 11, with the availability of spot reefer and flatbed freight making up for a decline in van loads, said DAT Solutions, which operates the industry’s largest network of load boards.
Nationally, the number of available trucks increased 3.7% compared to the previous week. Average spot rates in August remain below July averages.
National average spot rates through Sunday, August 11, include:
- Van: $1.81 per mile, 3 cents lower than the July average
- Flatbed: $2.28 per mile, 5 cents lower than July
- Reefer: $2.14 per mile, 5 cents lower than July
Van volume slipped 3% last week, and 57 of DAT’s top 100 van lanes by volume had lower rates. Among the few positive markets was Buffalo, where van freight volume increased 3% compared to the previous week and the average outbound rate rose 7 cents to $2.08 per mile. Otherwise, spot van volumes have been sliding over the past four weeks, especially in large Southeastern freight hubs:
- Atlanta, down 8% over four weeks
- Charlotte, North Carolina down 5%
- Memphis, Tennessee, down 7%
- Houston, down 5%
The national average van load-to-truck ratio dropped from 2.2 to 2.1. That’s nearly a full point lower than the August 2018 average.
Demand for reefer trucks trailed off in California and Texas last week, and the majority of high-traffic reefer lanes paid lower last week. There were early signs of activity shifting northward, as significantly higher volumes from Denver (up 34%) and Grand Rapids, Michigan, (up 71%) helped elevate the national average reefer load-to-truck ratio from 4.2 to 4.3.
While apple harvests won’t kick in strongly until the end of August, demand for trucks sent rates higher on key Midwestern lanes:
- Grand Rapids, Michigan, to Cleveland surged 62 cents to $3.71 per mile
- Grand Rapids, Michigam, to Atlanta added 31 cents to $2.59 per mile
- Chicago to Atlanta rose 20 cents to $2.77 per mile
- Chicago to Philadelphia was up 16 cents to $3.03 per mile
- Chicago to Denver increased 13 cents to $2.40 per mile
- Fewer reefer loads out of California meant truckload capacity was more available elsewhere. Reefer load volume out of Los Angeles fell 10% last week, Sacramento, California, was down 5%, and Ontario declined 3%.
- The national average spot van rate is 20% lower year over year, when the average rate was $2.31 per mile.
- There’s still uncertainty over how shippers will react to shifting tariff deadlines on Chinese imports. So far in August, spot van volumes indicate a lack of urgency to move goods ahead of the Sept. 1 deadline for additional taxes to take effect.
DAT Trendlines is a weekly snapshot of month-to-date national average rates from DAT RateView, which provides real-time reports on spot market and contract rates, as well as historical rate and capacity trends. The RateView database is comprised of more than $65 billion in annualized freight payments. DAT load boards average 1.2 million load searches per business day.
For the latest spot market loads and rate information, visit dat.com/trendlines and follow @LoadBoards on Twitter.