Seasonal trends continued to push spot market freight rates and availability lower for the week ending July 25, according to new figures released by DAT Solutions, the operator of the DAT network of load boards.
The total number loads posted fell 4.4% compared to the previous week while the number of available trucks declined 6.5%. This sent load-to-truck ratios up across all three equipment types while freight rates in all three sectors are at their lowest levels in at least four weeks.
A decline in load volume is typical for July, according to DAT, while volume typically picks up again in August.
The average rate for vans fell 1.1% to $1.83 per mile as van load availability dropped another 4.7% and truck capacity slipped 3%. The van load-to-truck ratio dipped 1.7%, resulting in 1.6 available van loads for every truck posted on the DAT network.
The number of refrigerated load posts fell 3.1% while truck posts decreased 8%, pushing the national average reefer load-to-truck ratio down 5.3% to 4.1 available loads per truck. The reefer market remains soft, which is reflected in the average spot market rate of $2.15 per mile, a 0.9% decline.
Flatbed load posts decreased 4.8% while truck posts fell 16%. The load-to-truck ratio jumped 14% to 13.2 available loads per truck - not a strong number for flatbeds - and the national average rate slipped 0.5% to $2.14 per mile.
Despite the overall downturn in rates, that are still a few area of the country where things are above average, acording to DAT Analyst Peggy Dorf in the company’s blog.