Total load activity increased 3.0% after rising by slightly more than that in the previous week. Volume was more than 15% higher than in the same 2024 week but more than 22% below the five-year average for the week. Total truck postings eased 0.7%, and the Market Demand Index – the ratio of load postings to truck postings in the system – rose to its strongest level since June 2022. Flatbed remains the principal driver for the rising MDI, although refrigerated equipment also contributed during the latest week.
The total market broker-posted spot rate increased nearly 3 cents to the highest level since June 2023. Total rates were up 2.7% y/y – the strongest comparison since June 2022 – but were 5.5% below the five-year average for the week. Relatively low diesel prices continue to benefit carriers as the portion of the all-in rate required to recoup fuel costs remains smaller than it was a year earlier. Rates excluding a calculated fuel surcharge were up 7.5% y/y. During the current week (week 12) of the year, dry van and refrigerated rates usually fall while flatbed rates usually rise.
Dry van spot rates declined less than 1 cent after falling nearly 6 cents in the prior week. Rates, which have declined in nine of the past 10 weeks, were about 2% below the same 2024 week and more than 17% below the five-year average for the week. Rates excluding a calculated fuel surcharge were up about 3% y/y. Dry van loads declined 2.3%. Volume was more than 14% below the same 2024 week and a little more than 42% below the five-year average.
Refrigerated spot rates decreased almost 2 cents, nearly a repeat of the previous week. Like dry van rates, refrigerated rates have fallen in nine of the past 10 weeks. Rates were more than 6% below the same 2024 week and more than 18% below the five-year average for the week. Rates excluding a calculated fuel surcharge were down 3.6% y/y. Refrigerated loads rose 4.3% for only the second increase in 10 weeks. Volume was nearly 15% below the same 2024 week and about 48% below the five-year average.
Flatbed spot rates increased more than 3 cents after jumping 7.5 cents during the prior week. Rates, which have risen for six straight weeks, were 2.4% above the same 2024 week – the strongest prior-year comparison since July 2022 – but more than 4% below the five-year average for the week. Rates excluding a calculated fuel surcharge were up about 7% y/y. Flatbed loads rose 6.8% to the highest level since July 2022. Volume was nearly 34% above the same 2024 week but more than 12% below the five-year average. Continued load strength suggests that imported metals to avoid tariffs was not the principal driver of recent gains, although another week or so of data would be needed as a confirmation.