BLOOMINGTON, Ind. — Although rates still trail the five-year average, spot rates for van equipment rose in line with seasonal expectations in the latest week, according to the latest report from Truckstop and Freight Transport Research.
Broker-posted dry van and refrigerated spot rates in the Truckstop system posted solid increases during the week ended June 30 (week 26), which is the year’s traditional peak in rates aside from the December holiday period, a news release noted.
Flatbed rates fell for the fifth straight week, although the decrease was not as sharp as it had been in the two prior weeks.
Total load activity increased 2% as a drop in flatbed volume mostly offset gains in dry van and refrigerated. Volume was more than 46% below the same week last year and nearly 26% below the five-year average. Loads were down in the Southeast and South Central regions but up elsewhere. Truck postings declined 1.5%, and the Market Demand Index — the ratio of loads to trucks — rose slightly.
The total broker-posted rate barely moved as the decline in flatbed rates offset the increases in rates for the van segments. Week 26 last year also saw essentially no change in total rates week over week.
The total market rate was about 23% below the same 2022 week and nearly 7% below the five-year average. Total market rates have been softer than seasonal expectations for the past four weeks, but the weakness lies almost exclusively with flatbed equipment. The broker-posted spot rate for flatbed equipment slipped below refrigerated rates for the first time since the second week of this year.
Dry van spot rates rose nearly 7 cents after increasing nearly 5 cents during the prior week. Rates were nearly 18% below the same 2022 week and about 10% below the five-year average. Dry van loads increased more than 13%, which is the strongest gain since mid-May’s International Roadcheck week. Volume was nearly 39% below the same week last year and nearly 16% below the five-year average for the week. Loads were down in the South Central region but up elsewhere.
Refrigerated spot rates jumped more than 13 cents, which is the largest increase since the 29-cent surge during Roadcheck week. Rates were nearly 14% below the same 2022 week and more than 7% below the five-year average for the week. Refrigerated loads rose nearly 18% after a gain of a similar scope in the prior week. Volume was 40% below the same week last year and 16% below the five-year average for the week. Loads were down on the West Coast but up in all other regions.
Flatbed spot rates fell almost 4 cents after dropping about 7 cents during the previous week. Rates were nearly 28% below the same 2022 week and about 6% below the five-year average for the week. Flatbed loads fell more than 11% after dropping nearly 14% during the prior week. Volume was nearly 56% below the same week last year and about 40% below the five-year average for the week. Loads were up on the West Coast and in the Mountain Central region but down elsewhere.
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