Spot volume rebounds after Labor Day week, but rates decline
Truck postings rose 8.2%, which is only about half of the 16.2% decline of the prior week. With the gain in capacity not matching volume growth, the Market Demand Index – the ratio of loads to trucks in the Truckstop.com system – rose to nearly the level recorded three weeks earlier. Among the three largest segments, flatbed was mostly responsible for the increase in truck postings.
Dry van load postings rose 23.9% after falling 20.9% during the holiday week. Volume in the latest week was about 2% below the volume recorded during in the week before Labor Day. Volume was nearly 24% above the same 2020 week and about 145% above the five-year average for the week.
Refrigerated load volume increased 22.3% after dropping 30.2% in the holiday week. Load postings were nearly 15% below week 35’s record level. Refrigerated spot volume tends to be soft following Labor Day until it spikes in the run-up to Thanksgiving. Volume was about 62% higher than the same week last year and about 165% above the five-year average.
Flatbed load postings jumped 29.8% after falling 13.9% during the holiday week. While dry van and refrigerated fell short of their pre-holiday volumes, flatbed load postings were nearly 12% ahead of week 35. Flatbed volume was about 29% higher than the same week last year and about 166% higher than the five-year average.
The broker-posted rate per mile excluding fuel surcharges declined nearly 6 cents for the largest decrease in five weeks. Rates are about 17% higher than the same 2020 week. Dry van rates fell more than 8 cents and are 10% higher than rates in the same week last year. Refrigerated rates also were down a little more than 8 cents from the prior week’s record level and were about 24% higher than the same 2020 week. Flatbed rates declined nearly 3 cents and were nearly 18% higher than the same week last year.