A rally in spot truckload freight rates appears to have fizzled last week. Truck capacity jumped 21% while available freight fell 18% compared to the previous week, according to DAT Solutions, which operates the DAT network of load boards.
The national average van rate declined 2.8% to $1.72 per mile, led by a falling surcharge and declines in key markets. Los Angeles was down 9 cents to $2.02 per mile, and Memphis was off 10 cents to $1.94 per mile.
The number of available van loads fell 25% week-over-week and truck posts increased 22%, producing a van load-to-truck ratio of 1.7 loads per truck.
The national average reefer rate dropped 0.5% to $1.94 per mile due to a lower fuel surcharge. The number of reefer load posts was down 26% while truck posts increased 24% for an average reefer load-to-truck ratio of 3.4.
The number of flatbed loads posted was off 1% and available truck capacity was up 18%, leading to a national load-to-truck ratio of 6.8. The average flatbed rate was $1.91 per mile, down 0.5% due to a lower fuel surcharge.
All this happened as the price of diesel fell another 4 cents to a national average of $2.34 per gallon.