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First, the good news. Last week’s winter storms had minimal effect on spot market truckload freight rates and load-to-truck ratios. Now, the bad news. Both managed to slip all on their own, with rates in the three major sectors being the lowest in at least the last four weeks.
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After spiking at the start of the year, truckload rates and load-to-truck ratios on the spot market slid downward during the week ending Jan. 16, according to load board operator DAT Solutions.
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Spot truckload freight activity increased sharply during the first full week of 2016, as rates also improved or held steady – while a separate report shows December was better than the month before.
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Average rates for flatbeds and reefers on the spot freight market ticked slightly higher during the final week of 2015 and first two days of this year compared to the week before, according to DAT Solutions and its load boards.
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Refrigerated freight volume showed unexpected strength on the spot market as the number of posted reefer loads fell just 1% for the week ending Dec. 26 compared to a 20% drop that’s typical during a holiday week, according to the latest numbers from DAT Solutions.
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Rates on the spot freight market slipped in two of the three main sectors for the week ending Dec. 19 as the amount of cargo to move fell slightly, according to DAT Solutions per its network of load boards.
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A rally in spot truckload freight rates appears to have fizzled last week, as truck capacity jumped 21% while available freight fell 18% compared to the previous week, according to DAT Solutions.
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Following an established seasonal pattern, spot market freight volume declined 15% in November from the month before, largely due to a drop in demand for flatbed trucks, but there were slight improvements in rates including into this month.
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Rates on the spot truckload market may finally be showing signs of rebounding as a 45% increase in the number of available loads greatly outweighed the 12% hike in truck capacity last week.
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Demand for freight to be moved on the spot truckload market outpaced available truck capacity during the week ending Nov. 28, as rates in the two of the three major sectors inched higher for a change.
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