Total load activity was essentially flat after declining about 6% in the previous week. Volume was more than 25% below the same week last year and about 29% below the five-year average for the week. Loads were up in the Midwest, Southeast, and Mountain Central regions but down elsewhere. Truck postings rose 5.6%, and the Market Demand Index – the ratio of loads to trucks – fell to its lowest level since Thanksgiving week last year. Aside from that week, the flatbed MDI was the lowest since April 2020.
The total broker-posted rate eased just over 1 cent after decreasing 3 cents in the prior week. Rates were more than 13% below the same 2022 week, which is the least negative y/y comparison since November, and were more than 4% below the five-year average. Although rates declined, recent moves are exceeding seasonal expectations between late June and Labor Day.
Dry van spot rates eased about 1 cent after ticking up half a cent during the previous week. Dry van rates were more than 10% below the same week last year and nearly 9% below the five-year average. As was the case in the previous week, the y/y comparison in rates was the least negative since July of last year. Dry van loads ticked up 0.2% after falling more than 5% in the prior week. Loads were up in the Midwest, Southeast, and Northeast but down elsewhere. Volume was about 14% below the same 2022 week and more than 21% below the five-year average.
Refrigerated spot rates rose more than 7 cents after easing about a cent-and-a-half during the prior week. Rates were nearly 7% below the same 2022 week – the least negative y/y comparison since April 2022 – and 4% below the five-year average. Refrigerated loads rose 7.1% after falling about 8% during the previous week. Loads were up everywhere except for the South Central region. Volume was nearly 8% below the same week last year – the strongest y/y comparison since May – and about 15% below the five-year average for the week.
Flatbed spot rates fell more than 3 cents after decreasing about the same amount during the previous week. Rates were about 16% below the same 2022 week and about 3% below the five-year average. Flatbed loads declined 2.3% after falling about 7% in the prior week. Loads were up in the Mountain Central and Southeast regions but down elsewhere. Volume was about 40% below the same week last year and nearly 45% below the five-year average for the week.