Spot truckload rates for dry van and refrigerated freight hit another high in October, according to DAT Freight & Analytics, while average flatbed rates also increased compared to September, they did not surpass 2018’s highs.
After surging for the last five months, spot truckload rates have gone flat according to DAT, with demand for trucks softening during the week ending October 18.
According to DAT Solutions, the average spot van rates set a record high in September, up 6 cents from the previous record set in June 2018.
According to DAT Freight & Analytics, August’s spot truckload rates almost set an all-time high, with spot van, refrigerated and flatbed rates higher month over month and load-to-truck ratios increasing at the end of summer.
Spot truckload freight activity saw a bump last week as a result of shippers and logistics companies repositioning freight that would be affected by a pair of major storms along the Gulf Coast.
According to DAT Solutions, spot truckload rates for van, refrigerated, and flatbed have all seen increases since last month, with supply chain disruptions caused by COVID-19 pushing more freight to the spot market at a time when demand for truckload capacity usually declines.
Looking at the spot market for the third week of July, it's hard to tell where we may be going, with rates and volumes hard to compare to typical seasonal trends due to COVID-19.
According to DAT Freight Trends for the week of June 1-7, average van, refrigerated, and flatbed rates have recovered to where they were prior to widespread shutdowns of the U.S. due to the COVID-19 outbreak.
The pressure to restock grocery stores and distribution centers stripped by COVID-19 buying has quickly given way to a slump for truck freight. As March segued into April, the spot market took a tumble, according to figures from DAT Solutions and Truckstop.com.
While it’s been a challenging year for the trucking industry in some ways, comparisons to the runaway market of 2017-2018 may make it seem worse than it is. In their monthly State of Freight webinar Dec. 12, the transportation intelligence analysts at FTR discussed the top trends affecting freight volumes and rates.