Spot load activity increased 2.5% after dropping 8.4% in the previous week. Volume was about 47% below the same 2021 week and 3% below the five-year average. Truck availability increased 4.2%, and the Market Demand Index – the ratio of loads to trucks – fell to its lowest level since May 2020.
The total broker-posted rate eased three-tenths of a cent. Rates were nearly 11% below the same 2021 week but nearly 12% above the five-year average for the week. However, FTR estimates that rates excluding a calculated fuel surcharge were more than 24% lower than during the same week last year.
Dry van spot rates declined 3 cents after holding basically flat in the prior week. Rates were 22% lower than the same 2021 week but more than 1% above the five-year average for the week. FTR estimates that dry van rates excluding a fuel surcharge were more than 38% lower than in the same week last year. Dry van loads eased 1%. Volume was nearly 48% below the same 2021 week but almost 1% above the five-year average for the week.
Refrigerated spot rates increased just over 1 cent after falling just over 4 cents in the previous week. Rates were about 19% below the same 2021 week but about 7% above the five-year average for the week. Rates excluding fuel surcharges were 32% below the same week last year. Refrigerated loads fell 6.2%. Volume was almost 53% below the same week last year but half a percent above the five-year average.
Flatbed spot rates fell 5.5 cents after increasing more than 1 cent in the prior week. Rates were more than 5% below the same 2021 week but nearly 17% above the five-year average for the week. However, excluding an imputed surcharge, flatbed rates were 18% below the same week last year. Flatbed loads rose 8.5%. Volume was about 52% below the same 2021 week and nearly 17% below the five-year average for the week.