Spot market freight rates have slipped as the number of loads available to haul also fell, according to the freight matching service provider DAT.
The average rate for both van and flatbed freight each fell 2.4% Sept. 14 through Sept. 20, compared to the previous seven days. Vans declined to $2.03 per mile, but may remain above the $2 mark the rest of the month, according to DAT. Flatbeds dropped to $2.39 per mile, its lowest level out of the past four-weeks, but still “elevated” for this time of the year.
The average rate for reefer freight fell 1.3% to $2.33 per mile, its second best performance out of the past four-weeks.
During the period spot market capacity was unchanged while the number of loads available fell 3.5%.
Not surprisingly, this lead to load-to-truck ratios falling in the three categories with the biggest decline happening in the flatbed sector, down 5.6% to 30.1 loads per truck. Reefers declined 3.1% to 8.8 loads per truck with demand for trucks remaining strong, according to DAT. Vans dipped 1.9% to 3.1 loads per truck, described by DAT as “robust.”