For the week of the Fourth of July, truckload freight rates hit new highs in the van and reefer segments, according to DAT Solutions’ weekly spot freight overview.
Urgency to move freight before the end of the second quarter and ahead of the Fourth of July holiday helped propel the national average spot van rate to $2.32 per mile during the week ending June 30.
The national average spot truckload van rate on the DAT Solutions network of load boards moved only a little higher for the week ending June 23 but it was enough to push it to a new all-time high.
Spot truckload rates jumped sharply during the week ending June 9 as the number of loads on DAT load boards increased 27% while truck posts fell 0.4%. Higher demand for capacity during a week that included the annual Roadcheck inspection blitz helped drive up rates.
National average spot market truckload rates moved slightly higher on the DAT Solutions network of load boards last week as both the number of posted loads and trucks also rose, amid signs of tighter capacity.
While the number of spot market loads on the DAT network of load boards fell last week along with truck posts, rates changed little.
The Cass Truckload Linehaul Index continued the acceleration that began in 2017 by posting a record 8.2% year-over-year increase, with the measure hitting a reading of 134.8.
Old Dominion Freight Line has announced a general rate increase of 4.9% that will apply to rates established under the existing IDFL 59, 670, and 550 tariffs, effective June 4.
With a steadily improving economy and sectors such as manufacturing and construction going strong, many trucking companies are finding they have more freight than they have trucks to haul – but nowhere is that more true than in the flatbed sector.
The spring shipping season may be late, but it's here, especially in produce-distribution markets, according to the spot freight information reported by the DAT network of load boards.