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First Week of August Shows Spot Truckload Rates in Holding Pattern

August 11, 2016 By: Trucking News Staff Tags: Fleet Management, News
First Week of August Shows Spot Truckload Rates in Holding Pattern

The number of available loads on the spot truckload market fell 3.9 percent during the week ending Saturday, Aug. 6, while rates held steady despite a reduction in the average fuel surcharge.

According to DAT Solutions, which operates the DAT network of load boards, the national average diesel price dipped another 3 cents to $2.32/gallon compared to the previous week, which led to a one-cent fuel surcharge loss.

Demand for reefer trucks was up as the back-to-school grocery season and late summer harvests both picked up steam. The national average spot reefer rate remained at $1.93/mile as the number of reefer load posts increased 4 percent while truck posts were unchanged. The reefer load-to-truck ratio was 5.3 loads per truck.

Northern reefer-freight markets are showing strength. Rates jumped 14 cents to $1.80/mile out of Elizabeth, N.J., last week as fruit and vegetable harvests in rural New Jersey and Pennsylvania contributed to an increase in demand. Elsewhere, regional markets with highest average rates held steady compared to the previous week:

  • Southeast: Atlanta, $2.29/mile, up 3 cents
  • West: Los Angeles, $2.48/mile, up 2 cents
  • Midwest: Green Bay, $2.47/mile, up 2 cents
  • South Central: McAllen, Texas, $1.74/mile, down 3 cents
  • Northeast: Philadelphia, $2.29/mile, up 2 cents.

The number of van load posts decreased 2 percent last week while truck posts held steady. That caused the load-to-truck ratio to dip 2 percent to 2.7 loads per truck.

At $1.64, the national average spot van rate was unchanged compared to the previous week. Van rates recovered 5 cents out of Chicago last week to $1.92/mile, and Columbus, Ohio, rates gained 2 cents to $1.81. Memphis added 3 cents to $1.87/mile, a positive sign for haulers of retail freight.

The number of flatbed load posts declined 10 percent last week while truck posts increased percent. That caused the load-to-truck ratio to fall 11 percent to 12.8 loads per truck. The national average flatbed rate increased 1 cent to $1.93/mile.

Rates are derived from DAT RateView, which provides real-time reports on prevailing spot market and contract rates, as well as historical rate and capacity trends. All reported rates include fuel surcharges.