Spot rates usually fade in early January but broker-posted spot rates in the Truckstop system increased modestly for all equipment types during the week ended January 10 (week 1). Freight network disruptions from winter weather likely bolstered spot rates coming out of a capacity-driven spike during the holidays. Dry van spot rates were the highest in two years while refrigerated spot rates were the highest in just over a year. Flatbed spot rates recovered from their lowest level since July 2020.

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Broker-posted spot rates in the Truckstop system during the week ended January 3 (week 53 of 2024) eased slightly overall as a significant drop in flatbed spot rates offset gains in refrigerated and dry van rates. Rising van rates are typical for the final week of the year, although the timing of New Year’s Day made last week’s profile unusual. The first week of the year normally sees spot rates declining from the holiday-period spike, but widespread severe winter weather this week could be disruptive.

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Broker-posted spot rates in the Truckstop system during the week ended December 27 (week 52) matched their strongest gain in a year, but they lagged the strength typically seen during the week that includes Christmas. Spot rates for refrigerated equipment led the way as the increase in dry van spot rates did not match that in the previous week and flatbed rates barely changed. Spot rates could recover some of their lost ground versus the previous year this week due to the timing of New Year’s Day.

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Broker-posted spot rates in the Truckstop system rose strongly during the week ended December 20 (week 51), especially for van equipment. The total market rate rose by the most since early October’s hurricane-related stress. Dry van’s gain basically matched its increase then. Refrigerated spot rates also were strong but have seen a couple of slightly larger gains since mid-October. Week 51 normally sees larger increases in van spot rates, but the week’s end usually is closer to Christmas.

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