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Last Week’s Spot Truckload Rates Jump on Increased Demand

November 10, 2016 By: Trucking News Staff Tags: Fleet Management, News
Last Week’s Spot Truckload Rates Jump on Increased Demand

Spot truckload market load availability gained 4.8 percent during the week ending Nov. 5 while the number of trucks posted slipped 2.0 percent, according to DAT Solutions, which operates the DAT network of load boards.

At $1.70/mile, the average spot truckload van rate was up 5 cents week-over-week and was just 1 cent below year-ago levels. For reefers, rates looked more like the June produce peak than the first week in November, jumping 7 cents from the previous week to an average of $1.97/mile: reefer rates haven’t been this high since mid-July.

Van and reefer load-to-truck ratios jumped as well:

  • Van L/T ratio: 3.0. Up 9 percent
  • Reefer L/T ratio: 6.8. Up 13 percent
  • Flatbed L/T ratio: 14.1. Down 2 percent

VAN TRENDS: Van load posts rose 7 percent and truck posts dropped 2 percent last week. Price changes were small on most individual lanes but the overall effect boosted the average linehaul rate to just 1 cent below the average for this time last year.

Several van markets are much stronger than they were a month ago, especially markets in the West (Los Angeles, Dallas, Denver, Seattle, and Stockton) that connect the region to much of the East Coast.

The top van markets by region all showed gains:

  • Northeast: Buffalo, $1.97/mile, up 6 cents
  • West: Los Angeles, $2.07/mile, up 4 cents
  • South Central: Dallas, $1.51/mile, up 1 cent
  • Midwest: Chicago, $2.05/mile, up 1 cent
  • Southeast: Charlotte, N.C., $1.91/mile, up 2 cents

REEFER TRENDS: With produce and other fresh food moving into position for Thanksgiving, reefer load posts unexpectedly increased 10 percent last week while truck posts declined 2.5 percent.

Rates on the top reefer lanes have been hard to predict, with lots of changes from week to week:

  • Fresno-Denver added 27 cents for an average of $2.27/mile
  • Miami-Northern New Jersey added 35 cents for $1.44/mile
  • Green Bay-Minneapolis rose 36 cents to $2.24/mile
  • Miami-Baltimore was down 29 cents to $1.36/mile
  • Los Angeles-Denver dipped 18 cents to $2.38/mile
  • Ontario-Phoenix rose 7 cents to $3.10/mile

FLATBED TRENDS: Flatbed load posts declined 1 percent last week as truck posts increased less than 1 percent. That caused the load-to-truck ratio to decline nearly 2 percent to 14.1 loads per truck. The average flatbed rate decline 1 cent to $1.91/mile.

FUEL HOLDS: The national average price of diesel fell a penny to $2.47/mile compared to the previous week.

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.