Spot Market Freight Rates Retreat Yet Still Healthy
Following several weeks of increases spot market freight rates and the number of loads available have fallen over the past week, according to the freight matching service provider DAT.
Following several weeks of increases spot market freight rates and the number of loads available have fallen over the past week, according to the freight matching service provider DAT.
Flatbeds posted the biggest decline, 2.1%, April 6 through April 12 compared to the previous seven days, hitting an average of $2.34 per mile. “Load volume dipped slightly, but remains strong in the early spring; capacity improved this week, but remains tight,” said DAT.
Vans fell 1% to $2.08 per mile while reefers declined 0.4% to $2.25 per mile as load volume slowed and available capacity improved.
This happened as load-to-truck ratios fell in all three sectors, with vans showing the biggest decline, 25%, followed by reefers at 20% and flatbeds giving up 9.5%. Overall freight availability fell 7%.
Despite the declines spot market freight rates overall are unusually strong for this time of the year.
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