Spot Market Freight Rates Stabilize
April 30, 2014
Rates on one of the nation’s largest spot freight markets are fairly stable amid lower freight levels.
DAT reports total spot market loads available fell 4.6% April 20 through April 26 compared to the previous seven days.
Rates for both flatbeds and reefers were unchanged, coming in at an average of $2.35 and $2.28 per mile, respectively, while vans fell 1.5% to $2.03 per mile. This compares to big increases that were seen during part of the late Winter and early Spring.
Also rates for flatbeds were unchanged despite the load-to-truck ratio increasing 2.8% with 38.5 loads available for every truck, due to a slight drop in capacity. The rate for reefers held despite a 10% drop in load volume however, as the load to truck ratio fell 12% to 7.8 loads for every one truck.
The decline in the van rate came as capacity increased 1.7%, moving its load-to-truck ratio down from three loads per truck a week ago to 2.7.
Compared with early April, van rates are down seven cents per mile, flatbeds have lost four cents but reefers are still two cents higher.