Total load activity fell 17%, which is not an especially large drop for a week that includes Memorial Day. Total volume was about 5% below the same 2023 week and about 28% below the five-year average for the week. Total truck postings fell 9.5% during the holiday week, and the Market Demand Index – the ratio of load postings to truck postings in the system – fell to its lowest level in four weeks.
The total broker-posted rate edged down two-tenths of a cent. Rates were about 5% below the same 2023 week and more than 7% below the five-year average for the week. The week-over-week changes in the rates for each of the principal equipment types were directionally in line with the changes for the same week last year.
Dry van spot rates dipped by a tenth of a cent. Rates were more than 2% below the same 2023 week and about 9% below the five-year average. Both comparisons were essentially the same as they were in week 21. Dry van loads fell 13.6%. Volume was about 2% below the same 2023 week and nearly 22% below the five-year average for the week.
Refrigerated spot rates dropped about 11 cents. Rates were 1% below the same 2023 week and 6% below the five-year average for the week. The negative y/y comparison in spot rates was only the second in the past eight weeks. Refrigerated loads fell 18.6%. Volume was more than 8% below the same 2023 week and about 29% below the five-year average for the week.
Flatbed spot rates rose more than 1 cent after edging up just over a half cent in the previous week. Rates were 6% below the same 2023 week and more than 7% below the five-year average for the week. Flatbed loads fell 19.5%. Volume was about 6% below the same week last year and nearly 35% below the five-year average for the week.