Capacity on the spot freight market improved from June to July, as load availability and rates softened somewhat. For the month of July, loads were down by 12 percent and truck capacity increased by 18 percent, compared to June, which is typically a peak month for trucking freight. During the last week of July (25th through 31st) load availability slipped 2.4 percent and equipment postings dipped by 1.3 percent compared to the previous week.
The overall load-to-truck ratio for July showed improved balance at 5.65 on the U.S. spot market, down from 7.60 in June. Flatbed capacity, especially, continues to ease with a 26-percent increase in equipment availability month over month, while spot market rates for flatbeds dipped by $0.03 in July to $1.60 (line haul only) in today's 30-day rolling average, nationwide.
Reefers were still constrained 6.67 loads per available truck in July, but demand has ebbed since June. Supporting that trend, reefer rates cooled by $0.05 in July to $1.53. The national average line haul rate for reefers in June (adjusted) was $1.58. Contract rates for reefers averaged $1.50 in May and June, and were not expected to increase in July. (National average contract rates for July are not yet available.)
Dry van rates trended sharply upward from January through June on the spot market, and remained flat in July at $1.32 per mile. Contract rates for vans increased more moderately through June, when the average rate hit $1.42 for line haul.
For more spot freight market trends, go to www.TransCoreTrendlines.com
Read Full Article
Enjoy curated articles directly to your inbox.