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Rates and the amount of available freight on the spot market continue to be lackluster, but there is an indication prices could pick up at least somewhat in the near future.
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Freight volume followed a common seasonal pattern of declining in August on the spot freight market as linehaul rates also moved lower, pushing the latest DAT North American Freight Index down for the second straight month.
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Truckload linehaul rates paid by shippers increased again last month, while intermodal costs were mixed, according to two new reports from freight payment processor Cass Information Systems.
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Spot truckload van and refrigerated freight rates finally recovered a little last week after a period of higher demand and declining fuel surcharges, while flatbeds continued to lose ground, according to DAT Solutions, which operates the DAT network of load boards.
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Rates on the spot freight market keep moving slowly downward as the amount of freight to haul edged just slightly higher by 0.1% overall over the past week.
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Spot truckload rates, including fuel surcharges, remained nearly unchanged over the past week as overall load availability fell 5.5% during the week ending Aug. 22, according to DAT Solutions.
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Despite van and reefer load availability increasing for the third consecutive week on the spot market, national average rates in the three major trucking sectors continued moving lower last week as equipment availability rose.
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Truckload shipping rates continue to rise, while intermodal shipping continues to get cheaper, according to two of the latest monthly readings. A wider report on freight transportation showed a seasonal lull.
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Spot market freight volume and rates fell in July, following a typical seasonal pattern, according to the latest DAT North American Freight Index.
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The amount of freight available on one spot network moved slightly higher last week, but it was only enough to push rates up a little bit in one sector.
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