Total load activity basically held steady, rising just 0.2% from the previous week. Load postings were more than 13% above the same 2023 week – the strongest positive y/y comparison since February 2022 – but about 30% below the five-year average for the week. Total truck postings ticked up 1.0%, and the Market Demand Index – the ratio of load postings to truck postings in the system – declined marginally.
The total broker-posted rate declined a little more than 1 cent after jumping more than 8 cents in the prior week. Rates were flat versus the same 2023 week but were more than 7% below the five-year average. Spot rates excluding a calculated fuel surcharge were about 9% higher than the same 2023 week and were positive y/y for all equipment types. The current week (week 42) almost always sees lower rates week over week, especially for dry van and flatbed equipment, but effects from Hurricane Milton might produce a different dynamic this year.
Dry van spot rates increased just over 1 cent after rising more than 7 cents during the previous week. Rates, which rose in a week 41 for the first time in eight years, were basically flat y/y at up just 0.1% above the same 2023 week but about 12% below the five-year average for the week. Excluding an imputed fuel surcharge, rates were 11.5% higher than during the same 2023 week. Dry van loads decreased 4.6%. Volume was about 8% below the same 2023 week and nearly 37% below the five-year average.
Refrigerated spot rates declined nearly 1 cent after increasing about 8 cents in the prior week. Rates, which usually decline in week 41, were 0.6% above the same week last year – the first positive y/y comparison in 11 weeks – but nearly 10% below the five-year average. Rates excluding an imputed fuel surcharge were up 9.6% y/y. Refrigerated loads decreased 4.7%. Volume was 4% above the same 2023 week – the strongest positive y/y comparison in 13 weeks – but nearly 34% below the five-year average for the week.
Flatbed spot rates fell nearly 3 cents after jumping more than 9 cents in the previous week. Rates, which fell in a week 41 for the first time in five years, were about 1% below the same 2023 week and about 7% below the five-year average for the week. Rates excluding an imputed fuel surcharge were up 7.3% y/y. Flatbed loads rose 3.4%. Volume was 34% above the same week last year – the strongest y/y comparison since late July – but close to 11% below the five-year average.