Compared to July 2011, spot market freight volume increased 4.5% in August. The July to August increase is atypical, seasonally, freight volumes typically decline in August with the average decline being 2.9% over the past 10 years.
Despite the increase in spot market demand, truckload freight rates, excluding fuel surcharges, remained relatively stable in August on a month-over-month basis. National average rates dipped 0.8% for dry vans compared to July, but increased 2.4% compared to August 2010.
Refrigerated van rates were down 0.6% versus July, but rose 2.6% compared to August 2010. Flatbed rates lost 1.1% compared to July, but increased 9.6% versus August 2010. Spot market rates are paid to the carrier by freight brokers and third-party logistics companies.
TransCore's monthly North American Freight Index has been published since 1996 and reflects spot market freight availability on the company's network of load boards in the United States and Canada.