Over the last 10 years, September load volumes declined four times and increased six times compared to August, for an average increase of 2.3% month-over-month. This September's spot market freight availability gain was the highest same-month increase since the aftermath of Hurricane Katrina rocked the transportation industry in 2005. Compared to August, spot market freight volume increased 3.2 percent in September.
Alongside the increase in spot market demand, rates rose modestly in September for all equipment types. National average rates increased by 2.3 percent for dry vans compared to August and by 3.9 percent compared to September 2010. Refrigerated van rates were up 1.3 percent versus August, and 2.1 percent compared to September 2010. Flatbed rates were stable month-over-month with a 0.6 percent increase compared to August, but that segment gained 10.2 percent year over year due to high demand.
Spot market rates are paid by brokers and 3PLs to the carrier.
Looking ahead to November, select Midwestern states are expected to offer relatively high freight volume and a good ratio of outbound loads. Top choices include: Illinois, Indiana, Wisconsin, Michigan and Kentucky.