Average spot truckload van and refrigerated rates were virtually unchanged during the week ending Feb. 7, a sign of price stability after January’s declines, according to DAT Freight & Analytics.
Compared with January’s spot truckload rates, average van rates through Feb. 8 were down 7 cents, flatbed rates were down 2 cents, and refrigerated rates were down 6 cents.
Dry van load post volumes increased 7% and the number of posted trucks was virtually unchanged compared to the previous week. The average van load-to-truck ratio was 4.5, up from 4.3 the previous week, DAT officials said in a press release.
The number of spot reefer load posts on the DAT network increased 13% last week with very little change in the number of trucks posted. The national average reefer load-to-truck ratio edged higher from 8.6 to 9.9 as a result.
Flatbed load and equipment posts each increased 2% last week, leaving the national average flatbed load-to-truck ratio virtually unchanged at 52.8.
Shippers put out a lot of requests for proposals late in the third quarter and throughout the fourth quarter in 2020 when spot rates were at record highs. Those 2021 contract rates are now making their way into routing guides.
Higher contract rates will mean lower spot market rates over time, and high diesel prices can erode margins further. It’s still a good pricing environment for truckers, but the price of fuel and the gap between contract and spot rates bear watching, DAT officials said in a press release.