National average van freight rates fell for the fifth week in a row, dropping 6 cents to $2.18 per mile for the week ending in Aug. 11, according to the latest numbers from DAT Solutions.
Flatbed rates were also down by the same amount, falling to $2.69 per mile and reefer rates fell 3 cents to $2.51. Despite the declines however, rates are 20% higher than the same period last year.
The number of loads posted on the DAT Network of load boards were down 5% and truck posts increased 3%. This means that more trucks were competing for fewer loads, causing the load-to-truck ratio to dip for all equipment types.
Spot market volumes for vans were down 1% and truck posts rose 2%. Prices were down in most markets but in the midwest, prices held up and in a few regional lanes, they actually increased.
Reefer demand has been down since peaking in June with the number of load posts falling 3% from last week. With truck posts up by 3% last week, the reefer load to truck ratio fell below year-ago levels. Some of the declinew was attributed to a stalling of shipments from out of California stemming from the effect of major wildfires in the region, according to DAT.