Increased freight availability and falling truckload capacity was not enough to keep freight rates on the spot market from falling slightly for the week ending June 27, according to DAT Solutions, which operates the DAT network of load boards.
The national average spot van rate dipped 0.5% compared to the week before to $1.89 per mile, including surcharge.
The number of posted van loads jumped 6.4% and truck posts declined 4.6% last week, driving the load-to-truck ratio up 11.6%. This resulted in 2.3 available van loads for every truck posted on the DAT network.
The national average refrigerated freight rate also fell 0.5% to $2.21 per mile despite rates recovering in Florida and Central California.
Demand for available reefers surged 15% and available capacity slipped 4.6%, boosting the national average load-to-truck ratio by 21% to 6.1 loads per truck, due partly to increased demand in California, according to DAT.
The company also said that van and reefer rates typically rise during the first week of July as shippers close the month and the quarter, and due to increased food deliveries for the Independence Day holiday.
Meantime, the national average rate for flatbeds was unchanged at $2.19 per mile despite declining demand.
Flatbed load availability fell 6.9% last week and truck capacity added 1.1% with the flatbed load-to-truck ratio falling 7.9% to 19 available loads per truck.