Total load activity declined 4.6% after rising about 10% in the previous week. Volume was almost 44% below the same week last year and nearly 29% below the five-year average. Load activity rose in the Southeast and was up slightly in the Northeast but fell in all other regions. Truck postings ticked up 0.3%, and the Market Demand Index – the ratio of loads to trucks – declined to its lowest level since mid-May.
The total broker-posted rate fell 5 cents after easing more than a cent in the prior week. The decrease was the largest since a slightly larger one in week 10. The total market rate was 22% below the same 2022 week and 2.5% below the five-year average.
Dry van spot rates declined 3.5 cents after falling 4 cents in the previous week. Rates were about 20% below the same 2022 week and more than 10% below the five-year average. Dry van loads declined 3.7% after rising more than 7% during the prior week. Volume was about 42% below the same week last year and nearly 29% below the five-year average for the week.
Refrigerated spot rates fell nearly 5 cents after ticking up just a tenth of a cent in the prior week. Rates were almost 15% below the same 2022 week and 7% below the five-year average for the week. Refrigerated loads fell 9.2% after rising nearly 8% during the previous week. Volume was more than 47% below the same week last year and nearly 32% below the five-year average for the week.
Flatbed spot rates fell more than 5 cents after decreasing 1.6 cents in the previous week. The decrease was the segment’s largest since March. Rates were nearly 25% below the same 2022 week and 1% below the five-year average for the week. Rates had not been below the five-year average since 2020. Flatbed loads declined 4.2% after rising more than 12% in the prior week. Volume was nearly 46% below the same week last year and more than 32% below the five-year average for the week.