Total load activity fell 14.8%, which is not a particularly large decrease for the week that includes Labor Day. Load postings were about 11% below the same 2023 week and about 34% below the five-year average for the week. Total truck postings fell 17.8%, and the Market Demand Index – the ratio of load postings to truck postings in the system – rose to its highest level in five weeks.
The total broker-posted rate ticked up by less than 1 cent after rising a little more than a cent during the previous week. Rates were about 4% below the same 2023 week – the largest y/y deficit in 13 weeks – and nearly 11% below the five-year average. The current week (week 37) historically is consistently weaker for spot rates than week 36 for all equipment types.
Dry van spot rates declined just over 2 cents after rising 6.5 cents in the prior week. Rates were more than 5% below the same 2023 week – the largest negative y/y comparison since March – and 16% below the five-year average for the week. Dry van loads dropped 20% during the holiday-impacted week. Volume was nearly 30% below the same 2023 week and almost 44% below the five-year average.
Refrigerated spot rates fell just over 10 cents after jumping 13 cents during the previous week. Rates were 5.7% below the same week last year – like dry van, the largest y/y deficit since March – and more than 13% below the five-year average. Refrigerated loads fell 19.5% during Labor Day week. Volume was more than 17% below the same 2023 week and close to 37% below the five-year average for the week.
Flatbed spot rates increased more than 2 cents after falling nearly 3 cents in the prior week. Rates were about 4% below the same 2023 week – the weakest y/y comparison in 13 weeks – and more than 9% below the five-year average for the week. Flatbed loads declined 9.2%. Volume was 6.5% above the same week last year but almost 31% below the five-year average.