Spot Market Freight Conditions Slightly Better from Week Before
November 06, 2013
Conditions on the spot market have improved somewhat from the week before, according to new figures released by the freight-matching service provider DAT.
Total spot market loads available to haul increased 4.9% Oct. 27 through Nov. 2 compared to the previous seven days, while spot market capacity fell 2.3%.
In the van category the load-to-truck ratio improved 8.8% but rates fell 1.6% from the week before to an average of $1.84 per mile, the lowest out of the past four-weeks. For all of October van rates declined 1.1% from the month before, but are 4% higher than October 2012.
Conversely, in the flatbed sector rates were better but the load-to-truck ratio declined over the past week. Rates increased 4.3% to an average of $2.11 per mile, tying the four-week high, while the ratio fell 3.1%. The average rate of $2.10 for October is three cents lower than September’s average.
Rates for reefers fell 1% from the week before, for an average of $2.05 per mile, the lowest out of the last four-weeks, while the load-to-truck ratio increased 11%. Reefer rates for all of October are down 5.1% from September as produce season winds down across most of the country.