BOISE, Idaho — Each of the principal freight segments saw lower broker-posted spot rates in the Truckstop system during the week ended May 12 (week 19).
Refrigerated rates gave back nearly half their gains over the prior two weeks, according to the latest Truckstop report.
Dry van rates continued their downward slide with their 14th decrease of the year and ninth in 10 weeks, while flatbed rates fell for a second straight week for the first time since January.
Truckstop officials said that International Roadcheck inspection event will “almost certainly will push up rates in all segments.”
Total load activity dipped 1% after falling 5.7% in the prior week. Volume was almost 49% below the same week last year and nearly 31% below the five-year average. Loads were up on the West Coast and in the South Central and Mountain Central regions but down elsewhere. Truck postings increased 2.5%, and the Market Demand Index – the ratio of loads to trucks – fell to its lowest level in five weeks.
The total broker-posted rate fell 1.6 cents. The total market rate was 22% below the same 2022 week and just 0.1% above the five-year average. Because last year was the first that International Roadcheck occurred in week 20 of the year, the probable sharp increase in rates this week should keep total rates above the five-year average for at least one more week.
Dry van spot rates eased just over 1 cent, which is about the size of the prior week’s decrease. Although rates have increased only once in the past 10 weeks, the decreases have been small in recent weeks. Rates were nearly 24% below the same 2022 week and almost 12% below the five-year average for the week. Dry van loads ticked up 0.6% after falling more than 7% in the previous week. Volume was more than 42% below the same week last year and about 28% below the five-year average for the week. Volume was down in the Midwest and basically flat in the Northeast but up elsewhere.
Refrigerated spot rates fell 8.5 cents after rising more than 17 cents total in the previous two weeks. Rates were almost 16% below the same 2022 week and more than 9% below the five-year average for the week. Refrigerated loads fell more than 6% following the gain of nearly 8% in the prior week. Volume was more than 43% below the same week last year and nearly 26% below the five-year average for the week. Load activity plunged in the Southeast after the prior week’s volume spike, but volume was up in all other regions.
Flatbed spot rates declined nearly 2 cents after the prior week’s drop of more than 4 cents. Rates were about 23% below the same 2022 week but still about 3% above the five-year average for the week. Flatbed loads barely budged, ticking up just 0.2%. Volume was more than 55% below the same week last year and about 37% below the five-year average for the week. Load activity was up in the Midwest and Southeast but down in all other regions.
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.