After posting big increases last week, rates on the spot market have cooled, according to the freight-matching service DAT.
Flatbed rates fell 2.4% March 9 through March 15, compared to the previous seven days, erasing all of last week’s gain, hitting an average of $2.10 per mile, while reefers declined 2.3% for $2.18 per mile, following a 13 cents increase the week before.
Van freight was the only gainer, picking up 1% for $2.09 per mile, its highest level out of the last four weeks and still near its peak level.
Van freight availability dropped only 0.4%, while truck available capacity increased 8.2%. That moved the load-to-truck ratio lower to 5.8, down 8% from 6.3 the prior week.
Available flatbed loads climbed 16% while truck capacity tightened 2.4%. The load-to-truck ratio rose 19% to 36.1 from 30.4 the prior week.
Overall load volume for reefers increased 3.9% last week, while truck capacity increased 8.8%, moving the load-to-truck ratio down 4.5% to 17.4, from 18.2 the prior week.
This happened as total load volume on the spot market increased 7.2% with truck capacity up by 6.4%.