Spot Freight Turns Around in Early July Following Disappointing June
Rates on one of the nation’s largest spot freight markets improved the first part of July after trending downward most of last month. DAT reports from June 30 through July 6 the average rate for van and flatbeds moved 3.2% higher, compared to the previous seven days.
Credit: DAT
DAT reports from June 30 through July 6 the average rate for van and flatbeds moved 3.2% higher, compared to the previous seven days, with vans averaging $1.93 per mile and flatbeds coming in at $2.23 per mile. Reefers also posted a gain, picking up 1.3%, for an average of $2.30 per mile.
DAT
Van rates rose on the spot market in Chicago and three Southeastern hubs, but other cities had mixed results, according to DAT. It attributes the gain in flatbeds to due to ongoing construction projects and an uptick in manufacturing activity. Reefer rates increased largely to short-haul deliveries before and after the July 4 holiday.
The increases came as total spot market loads fell 22% and truck capacity declined by nearly as much.
The van load-to-truck ratio increased 0.5%, flatbed load-to-truck fell by 11%, while the reefer load-to truck ratio improved 1.3%
This follows news from earlier this week that while June freight levels improved from May, they were nowhere near as good as they were compared to June of 2012, with improvements for July expected.
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