Total load activity fell 7.3% for the first decrease in seven weeks. Load postings were close to 21% higher than the same 2023 week but were about down versus the five-year average by basically the same degree. Total truck postings increased 1.0%, 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 declined one-half cent after increasing nearly 3 cents in the prior week. Rates were 2.0% above the same 2023 week but were close to 6% below the five-year average. Rates generally followed seasonal expectations as van rates typically decline and flatbed rates usually increase during comparable weeks of the year. Spot rates excluding a calculated fuel surcharge were nearly 13% higher than the same 2023 week and were strongly positive y/y for all equipment types. The current week (week 44) usually sees higher refrigerated spot rates and lower flatbed rates with dry van rates inconsistent.
Dry van spot rates decreased more than 2 cents after rising more than 6 cents during the previous week. Rates were nearly 2% above the same 2023 week but almost 10% below the five-year average for the week. Dry van rates have reversed the y/y weakness seen in August and September, perhaps due to the disruption from the hurricanes. Excluding an imputed fuel surcharge rates were nearly 15% higher than during the same 2023 week. Dry van loads decreased 4.9%. Volume was less than 1% below the same 2023 week and about 35% below the five-year average.
Refrigerated spot rates fell more than 4 cents after rising more than 10 cents in the prior week. Rates were 3.6% above the same 2023 week but nearly 6% below the five-year average. As with dry van, refrigerated rates have reversed their late summer weakness relative to 2023. Rates excluding an imputed fuel surcharge were up more than 14% y/y. Refrigerated loads fell 10.6% after a sharp gain during the previous week. Volume was more than 5% above the same 2023 week but almost 32% below the five-year average for the week.
Flatbed spot rates increased 1.6 cents after rising by slightly less than that during the previous week. Rates, which have firmed versus late summer levels as van rates have, were just under 1% above the same 2023 week but more than 5% below the five-year average for the week. Rates excluding an imputed fuel surcharge were up nearly 11% y/y. Flatbed loads fell 9.2% for the first weekly decrease since the week that included Labor Day. Volume was 40% above the same week last year but more than 14% below the five-year average.