An upturn in spot market truckload freight rates seen the previous week ran out of steam quickly, according to new numbers from the freight matching service provider DAT Solutions.
Reefers increased just 0.5% May 10 through May 16 compared to the previous seven days for a national average of $2.17 per mile, its best showing out of the past four-weeks. Despite the small gain, rates trended up sharply for out-bound freight in California, Florida and Southern Texas, according to the company.
Beyond this market, things were unchanged with van and flatbeds from the previous week at $1.85 and $2.18 per mile, respectively.
The lack of a surge in rates is likely due to a 6% drop in the amount of spot market freight to move while truck capacity increased by 0.5%.
Such a performance was seen in load-to-truck ratios with the only improvement happening in the reefer category, up 1.9%, with six reefer loads available to haul for every truck listed on the DAT network of load boards.
The van ratio fell to 14% to 2.4 loads per truck as van freight availability dropped 13.5% while truck capacity ticked up 0.4%.
The flatbed ratio declined 4% to 19.8 loads per truck as load availability in the secotor dipped 3.4% and truck capacity added 0.7%.