Freight rates and the number of load available on the spot market posted impressive gains over the past week, according to just released numbers from the freight-matching service provider DAT.
Total spot market loads available increased 12% Feb. 2 through Feb. 8 compared to the previous seven days while spot market capacity fell 6.2%, pushing up rates in two of the three major freight categories.
Van rates advanced 2.1% for an average of $1.97 per mile, while reefers increased 4.9% to $2.16 per mile. Both are their best showings in the last four weeks. Flatbeds were unchanged from the week before at $2.09 per mile.
The increases came as the load-to-truck ratio for vans jumped 26% with reefers seeing a 24% gain. The flatbed load-to-truck ratio increased far less, adding just 3.7%.
Freight backlogs due to weather delays are thought to be the reason for increased load availability and rates.