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A measure of truckload rates moved higher in October from the same time last year, while intermodal rates continued moving lower, according to newly released figures.
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Increased truck availability and few available loads to move pushed spot market truckload rates down again over the past week, but one analyst says it's possible they have bottomed out.
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Taken separately, new reports on freight movements in the U.S. on freight volume, shipper spending and even the spot market seem to run almost counter to one another. A deeper dive into the analysis shows why activity has slowed but is not widespread.
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Signaling the movement of holiday goods, the number of posted van and refrigerated loads on the spot truckload market increased as the rate in one of the three major sectors moved slightly higher for a change.
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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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