The amount of spot market freight available at the end of May and into the first of June fell dramatically while rates barely changed.
New figures from freight-matching service provider DAT TransCore show May 26 through June 1, the number of spot market loads available in the U.S. fell 19% from the previous seven days.
Rates for dry vans and reefers were unchanged during the period, coming in at an average of $1.82 and $2.14 per mile, respectively. In contrast rates for flatbeds fell 0.5% to an average of $2.13 per mile.
Load-to-truck numbers improved for flatbeds, gaining 5.4%, followed by dry vans increasing 1.8%. Reefers fell sharply by 12%.
When May is compared to the same time a year ago numbers on the spot market are down across the board with overall freight availability declining 9.9% while load-to-truck numbers in the three major sectors fell between 9.4% to as much as 39%.
As for rates, they are down by as much as 7.4% for flatbeds, while dropping much less for dry vans and reefers, falling 1.1% and 0.5%, respectively.