Total load activity rebounded 17.6% during the week following Labor Day week. Volume was more than 15% below the same week last year and almost 24% below the five-year average for the week. Volume rose in all regions week over week. Truck postings increased 13.3%, and the Market Demand Index – the ratio of loads to trucks – rose to its highest level since the end of June.
The total broker-posted rate fell about 4.5 cents after rising about 2 cents in the previous week. Rates were almost 11% below the same 2022 week – the least negative y/y comparison since August 2022 – and nearly 5% below the five-year average. Comparisons y/y are stable at 4% to 5% versus a spot market that had fully normalized by August of last year.
Dry van spot rates fell nearly 5.5 cents after rising 8 cents over the prior three weeks. Rates were nearly 9% below both the same week last year – the least negative y/y comparison since April 2022 – and almost 10% below the five-year average. Dry van loads rose 11.5%. Volume was about 14% below the same 2022 week and nearly 20% below the five-year average.
Refrigerated spot rates fell nearly 10 cents for the largest decrease since the week that included the Independence Day holiday. Rates were nearly 7% below the same 2022 week and more than 6% below the five-year average. Refrigerated loads increased 4.5%. Volume was more than 25% below the same week last year and almost 24% below the five-year average for the week.
Flatbed spot rates declined more than 3.5 cents after posting the largest increase since early February during the previous week. Rates, which were about 14% below the same 2022 week and more than 3% below the five-year average, are still slightly higher than they were several weeks ago, but they have not clearly bottomed out. Flatbed loads jumped 26.6% to the strongest level since mid-July. Volume was nearly 14% below the same week last year – the least negative y/y comparison since early March 2022 – and about 32% below the five-year average for the week.