Spot Truckload Rates Generally Hold, Demand for Capacity Rises
Pre-Thanksgiving shipping boosted demand for vans and refrigerated capacity on the spot truckload market during the week ending Nov. 21, but it barely had a positive result on rates.
Pre-Thanksgiving shipping boosted demand for vans and refrigerated capacity on the spot truckload market during the week ending Nov. 21, but it barely had a positive result on rates.
The total number of load posted increased 7.1% compared to the previous week while capacity was essentially unchanged, according to DAT Solutions, which operates the DAT network of load boards.
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Even though demand was up, the national average truckload van rate on the spot market held at $1.70 per mile. Average outbound rates rose in key markets including Los Angeles, up 4 cents to $2.01 per mile and Philadelphia, up 3 cents to $1.70; but slipped in Buffalo, down 7 cents to $1.85; Columbus, down 1 cent to $1.84; and Chicago, down 1 cent to $1.98.
All reported rates include fuel surcharges.
Van load availability jumped 13% while posted capacity was down 0.8%. The load-to-truck ratio rose 14% resulting in 1.8 available van loads for every truck posted on the DAT network.
The national average spot rate for refrigerated freight rose 1 cent to $1.93 per mile. Prices surged in the West: outbound reefer rates in Sacramento rose 21 cents per mile; 13 cents in Twin Falls, Idaho; 10 cents in Fresno; and 9 cents in Ontario, Calif.. Los Angeles prices rose 1 cent while the average per-mile rate in Nogales, Ariz., added 4 cents.
Nationally, reefer load availability increased 16% and truck capacity rose 2%. The reefer load-to-truck ratio rose 14% to 4.6 loads per truck.
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Flatbed load availability on the spot market fell 8% and truck posts were increased just 0.7%.
The national flatbed load-to-truck ratio fell another 7% to 5.8 while the national average flatbed rate continued to sag, dropping 3 cents to $1.92 per mile, also down 8 cents from the last week of October.
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