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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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A measure of per-mile truckload linehaul rates declined again in April along with a separate gauge of intermodal shipping costs. And there is little to no indication conditions will soon improve.
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Truckload rates on the spot freight market increased sharply in two of the three equipment types during the first week of May, according to new figures released by DAT Solutions and based on its network of load boards.
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Two separate measures of spot market truck freight volume turned lower in April following an improvement the month before.
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The number of spot market loads jumped 9% during the final week of April compared to the previous week, according to DAT Solutions and its network of load boards, but rates showed hardly any improvements.
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