Total load activity rose 7.6% after increasing about 5% during the previous week. Load postings were about 8% above the same 2023 week – the first positive comparison since late July – but about 24% below the five-year average for the week. The week-over-week increase in volume was strongest in the Southeast region, supporting the conclusion that Hurricane Helene’s aftermath was the key stress on the market. Total truck postings fell 5.2%, and the Market Demand Index – the ratio of load postings to truck postings in the system – rose to its highest level since mid-July.
The total broker-posted rate increased more than 8 cents after ticking up just over a half cent in the prior week. Rates were 0.4% above the same 2023 week for the first positive y/y comparison since late July but were still about 7% below the five-year average. The increase in total rates was strongest in the Southeast, although all regions saw some increase except for the Northeast where rates were basically flat. Spot rates excluding a calculated fuel surcharge were about 11% higher than the same 2023 week and were positive y/y for all equipment types. The current week (week 41) almost always sees lower dry van and refrigerated rates week over week, but effects from Hurricane Milton – expected to hit Florida’s Gulf Coast on Wednesday – and continued impacts from Helene could produce a different outcome.
Dry van spot rates increased more than 7 cents after increasing 2 cents during the previous week. Rates, which saw their biggest increase since International Roadcheck week in May, were about 3% below the same 2023 week and close to 14% below the five-year average for the week. Excluding an imputed fuel surcharge, rates were nearly 9% higher than during the same 2023 week. Dry van loads rose 8.4%. Volume was nearly 9% below the same 2023 week – the least negative comparison in 10 weeks – and more than 36% below the five-year average.
Refrigerated spot rates rose about 8 cents after falling close to 5 cents in the prior week. Rates, which were up for the first time in five weeks, were 0.4% below the same week last year and nearly 10% below the five-year average. Rates excluding an imputed fuel surcharge were up more than 9% y/y. Refrigerated loads increased 7.7%. Volume was nearly 3% above the same 2023 week – the first positive y/y comparison in 12 weeks – but about 33% below the five-year average for the week.
Flatbed spot rates jumped more than 9 cents for its largest increase in a single week since May 2022. Rates were 0.4% above the same 2023 week – the first positive y/y comparison in 11 weeks – but about 6% below the five-year average for the week. Rates excluding an imputed fuel surcharge were up nearly 11% y/y. Flatbed loads rose 7.9%. Volume was more than 22% above the same week last year but close to 19% below the five-year average.