Spot rates fall, volume rebounds in the latest week

Despite modest steps by railroads to prepare for a work stoppage that ultimately did not occur, the spot market for truck freight mostly moved according to seasonal expectations during the week ended September 16 (week 37). Total rates in the Truckstop.com system declined as they typically do after the Labor Day holiday week while volume rebounded as expected. One sign of possible extra strength was a sharper rebound in dry van volume than typically is seen during the week following the holiday.

 

Loads Available 09.19.22Total load postings rose 17.4%, which was just slightly above the percentage decrease during the Labor Day week. Volume was about 45% below the same 2021 week and more than 4% below the five-year average for the week. Load postings rose sharply in all regions. Truck postings rose 12.7%, and the Market Demand Index – the ratio of loads to trucks in the Truckstop.com system – increased to its strongest level in seven weeks.




 

Total Rates 09.19.22The total broker-posted rate in the system fell 7.5 cents. The broker-posted rate was nearly 14% below the same 2021 week but nearly 9% above the five-year average. However, FTR estimates that excluding an imputed fuel surcharge, rates were nearly 27% below the same week last year.



 

 

 

 

Dry Van 09.19.22Dry van spot rates fell about 8 cents. Rates were about 22% lower than the same 2021 week but 0.2% below the five-year average for the week. Dry van rates had not been below the five-year average since late June 2020. Rates were nearly 37% lower than the same 2021 week if an imputed fuel surcharge is excluded. Dry van load postings jumped 21.6%, which is nearly double the drop during the holiday week. The volume rebound following the holiday often lags or only slightly exceeds the holiday week decrease. Another possible sign of extra volume due to the rail situation was a 40.1% surge on the West Coast. Railroads had begun curtailing inbound intermodal loads by mid-week to limit the impact in the event of a strike on Friday. Dry van volume was about 43% below the level posted in the same 2021 week but 1% above the five-year average for the week.

 

Reefer 09.19.22Refrigerated spot rates fell nearly 12 cents for the largest decline since early July. Rates were nearly 24% below the same 2021 week but about 2% above the five-year average for the week. Rates excluding fuel surcharges were nearly 36% below the same week last year. Refrigerated load postings rose 13.2% after falling 11.6% during the holiday week. Volume was nearly 43% below the same 2021 week but nearly 14% above the five-year average for the week.



 

 

Flatbed 09.19.22

Flatbed spot rates dropped by nearly 7 cents. Rates were more than 7% below the same 2021 week, but they were still nearly 16% above the five-year average for the week. Excluding an imputed surcharge, flatbed rates were more than 19% below the same week last year. Flatbed load postings rose 17.1% after falling 23.3% in the holiday week. Volume was 53% below the same 2021 week and nearly 21% below the five-year average for the week. The segment’s deficit relative to the five-year average was the largest since May 2020.

 

 


 
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