Dry van and refrigerated spot volumes set records during the week ended September 4 (week 35) as the Market Demand Index (MDI) hit its fifth straight weekly record. Total load postings rose 3.3% as truck postings eased slightly. Total load volume remains about 8% below the June 2018 record as flatbed volume is far below the record set then. The coming week features one of the factors in the June 2018 strength: The Commercial Vehicle Safety Alliance’s International Roadcheck inspection spree.
Spot load postings in the Truckstop.com system in week 35 were about 78% higher than the same week last year and more than double the five-year average for the week. Meanwhile, truck postings declined 0.4%. The result was another record in the MDI – the ratio of load postings to truck postings in the system.
Typically, International Roadcheck leads to an increase in spot loads and a decrease in truck postings. However, week 36 this year is complicated by the fact that it includes the Labor Day holiday. Loads likely will be weaker week over week, but the impact on truck capacity could be greater than in past International Roadcheck weeks as truckers could take a longer break.
Dry van loads increased 6.1% from the prior week, surpassing the new record set that week. Loads in week 35 were more than double the volume in both 2019 and the five-year average for the week. Loads were up in all regions week over week except for the West Coast. Truck postings were up but not by as much as loads, so the dry van MDI rose to its fifth straight record.
Refrigerated spot load postings, like dry van, were up 6.1%, which was enough to surpass the prior weekly record set in late June 2018 by nearly 4%. Loads were 64% higher than the same week last year and 77% above the five-year average. Volume was up in all regions week over week except in the South Central region. Truck postings were unchanged, so the refrigerated MDI rose to its fourth record in five weeks.
Flatbed spot load volume was essentially unchanged from the prior week. Load postings were 71% higher than last year and more than double the five-year average. Volume was down in the South Central and the West Coast regions but up in all other regions. Although flatbed loads didn’t move, truck postings were down slightly so the flatbed MDI was up slightly to the highest level since 2018.
The broker-posted rate per mile excluding fuel surcharges was up nearly 6 cents and was about 25% above last year and nearly 18% above the five-year average. Dry van rates, which were up about 9 cents for the second straight week, were about 42% above last year and 30% above the five-year average. Refrigerated rates rose nearly 13 cents – the strongest increase in nine weeks – and were 28% above last year and nearly 20% higher than the five-year average. Flatbed rates, which were up nearly 2 cents, were about 21% higher than the same 2019 week and 14% above the five-year average.