Total load activity declined 5.1% after rebounding nearly 18% during the week following Labor Day week. Volume was about 16% below the same week last year and almost 28% below the five-year average for the week. Unlike the situation with rates, volume for van equipment has been weakening modestly relative to seasonal expectations. Spot volume rose on the West Coast but was down in all other regions. Truck postings ticked up 1.1%, and the Market Demand Index – the ratio of loads to trucks – fell to its level in four weeks.
The total broker-posted rate held steady after falling about 4.5 cents during the previous week. Rates were almost 10% below the same 2022 week – the least negative y/y comparison since August 2022 – and about 4% below the five-year average. Comparisons versus the five-year average have been stable for a couple of months.
Dry van spot rates declined 2 cents after falling more than 5 cents in the prior week. Rates were about 8% below both the same week last year – the least negative y/y comparison since April 2022 – and more than 9% below the five-year average. Dry van loads declined 4.8%. Volume was 19% below the same 2022 week and about 25% below the five-year average.
Refrigerated spot rates decreased about 3.5 cents after falling more than 6 cents during the previous week. Rates were about 9% below the same 2022 week and more than 7% below the five-year average. Refrigerated loads fell 11.5%. Volume was about 29% below the same week last year and almost 30% below the five-year average for the week.
Flatbed spot rates increased 1.5 cents after falling more than 3.5 cents during the prior week. Rates were more than 13% below the same 2022 week and about 3% below the five-year average. Flatbed loads declined 4.7%. Volume was nearly 8% below the same week last year – the least negative y/y comparison since March 2022 – and nearly 36% below the five-year average for the week.