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Seasonal increases in spot truckload freight rates are continuing, according to new figures posted by the freight matching service provider DAT Solutions.
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Separate gauges of truckload line haul rates and intermodal rates both fell in May, according to newly released figures, following a Monday report showing freight levels are well below those of the last several years.
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Although North American freight shipments continued to climb in May, they are still well below those of the last several years, and expenditures for freight fell for the third time in five months, according to the latest Cass Freight Index Report.
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The latest weekly numbers on the spot truckload freight market are both a good news and not so good news situation.
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While spot truckload freight rates showed some improvements in May from the month before, they remain below levels from a year earlier, according to new figures released by the freight matching service provider DAT Solutions.
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Rates on the spot truckload freight market turned higher over the past week amid optimism the usual seasonal bump in the spring and early summer has finally arrived, according to the freight matching service provider DAT Solutions.
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National average truckload van and flatbed rates each rose a penny on increased demand for freight hauling services during the week ending May 28 compared to the previous week, according to DAT Solutions and its network of load boards.
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Spot truckload freight rates and volume both saw no improvements for the week ending May 21 compared to the previous week, according to DAT Solutions and network of load boards. However, load-to-truck ratios increased and diesel prices have been rising sharply, an indication that spot rates may pick up soon.
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FTR's Trucking Conditions Index fell by nearly 50% in March as a weak economy during the first quarter of 2016 negatively impacted the freight market.
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The amount of North America freight shipments and freight spending remain below levels from a year ago despite monthly gains, according to the latest Cass Freight Index report, and there is a concern conditions could get worse.
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