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If you are looking to the spot market to move some freight, it remains a good news/bad news situation, based on recent numbers.
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There seems to be no let-up when it comes to weekly declines for rates on spot truckload freight market, as the amount of available cargo has also moved lower.
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Following a surge to close out September, the number of posted loads on the spot truckload market dropped 11% during the week ending Oct. 10, according DAT Solutions, which operates the DAT network of load boards.
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J.B. Hunt's third quarter net earnings exceeded analyst expectations at $115.1 million, or diluted earnings per share of 99 cents, compared to third quarter 2014 net earnings of $102.4 million, or 87 cents per diluted share.
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Large carriers lead the trucking industry on several key metrics including per-mile rates, driver retention, and revenue-per-driver, according to a recent survey conducted by transportation consultation firm Katz, Sapper & Miller.
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Spot market freight volume remained relatively stable in September, edging down only 0.6% month over month as rates declined from both the month before and a year earlier, according to monthly numbers from DAT.
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Trucking companies are bracing for a slowdown in their business, with many looking to mergers and acquisitions for growth instead, according to reports this week in The Wall Street Journal.
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The number of posted loads on the spot market jumped 5.7% for week ending Oct. 3, as shippers rushed to move inventory before the end of the quarter while available truck capacity fell 4.5%, but the changes were not enough to advance rates.
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Freight rates on the spot market continue in their holding pattern, moving up little from one week to the next, according to the freight-matching service DAT Solutions.
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Rates on the spot market showed little to no improvement over the past week, with little of the usual after-Labor-Day jump in available freight .
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