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Nationally, truckload spot market rates remained stable compared to the previous week. The average van rate was unchanged at $2.03 per mile (including fuel surcharge), while the average rate for refrigerated freight rose 1 cent to $2.29 per mile and the flatbed rate lost 2 cents to $2.40 per mile.
In key markets, spot van rates slipped but stayed strong out of Los Angeles ($2.24 per mile); Columbus, Ohio ($2.33 per mile); Memphis ($2.41 per mile); and Buffalo ($2.33 per mile).
Looking at market demand, available van freight declined 5 percent while posted capacity increased 3.4 percent. The resulting van load-to-truck ratio was 3.1, meaning there were 3.1 van loads posted for every van available on DAT load boards.
Reefer freight availability slipped 9.0 percent and capacity was up 3.4 percent, producing a reefer load-to-truck ratio of 8.7. Flatbed capacity added 4.7 percent and load availability declined 2.5 percent. The flatbed load-to-truck ratio is now 25.9 loads per truck.
The national average diesel price fell three cents to $3.70 per gallon. Declining fuel prices tend to have a dampening effect on spot market rates. When fuel prices slip, the surcharge drops and the total rate may decline accordingly.
Load-to-truck ratios represent the number of loads posted for every truck available on DAT load boards. The load-to-truck ratio is a sensitive, real-time indicator of the balance between spot market demand and capacity. Changes in the ratio often signal impending changes in rates.
Rates are derived from DAT RateView, which provides real-time reports on prevailing spot market and contract rates, as well as historical rate and capacity trends. RateView's database is comprised of more than $24bn in freight bills in more than 65,000 lanes.
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