Total load activity fell 11%, declining for a second week in a row after 10 straight weeks of increases. Flatbed again accounted for the biggest drop after a sustained run-up, suggesting that the bulk of its strength from February until the recent drop was likely due to pulling ahead imports in advance of tariffs. Total volume was about nearly 5% above the same 2024 week – the softest comparison in 10 weeks – but about 21% below the five-year average for the week. Total truck postings eased 0.8%, and the Market Demand Index – the ratio of load postings to truck postings in the system – fell to its lowest level in eight weeks.
The total market broker-posted spot rate increased 3.6 cents for the 10th straight increase due primarily to rates for flatbed equipment. Total rates were up 6.4% y/y – the strongest prior-year comparison since April 2022 – and were more than 1% above the five-year average for the week. Rates excluding a calculated fuel surcharge – an adjustment that isolates the portion of all-in rates not needed to recoup fuel costs – were up more than 12% y/y. During the current week (week 16) of the year, dry van and refrigerated spot rates usually fall while flatbed rates usually rise.
Dry van spot rates decreased more than 2 cents after falling close to 7 cents during the previous week. As noted earlier, dry van rates were at their lowest level in just under a year, but they are less than 2 cents higher than they were in June 2020. Rates were about 3% below the same 2024 week – the weakest comparison in nine weeks – and more than 10% below the five-year average for the week. Excluding a calculated fuel surcharge, dry van rates were up less than 2% y/y. Dry van loads decreased 6.9%. Volume was about 17% below the same 2024 week and 35% below the five-year average.
Refrigerated spot rates rose 7.4 cents after falling nearly 7 cents in the prior week. The week-over-week increase was the second largest of the year. Rates were nearly 2% above the same 2024 week – the first positive comparison in 13 weeks – but were 6% below the five-year average for the week. Excluding a calculated fuel surcharge, refrigerated rates were up 7% y/y. Refrigerated loads increased 3.6%. Volume was about 9% above the same 2024 week but close to 27% below the five-year average.
Flatbed spot rates increased 5.6 cents for the 10th straight increase. Rates were 7% above the same 2024 week – the strongest comparison since June 2022 – and were about 2% above the five-year average for the week. Rates excluding a calculated fuel surcharge were up about 13% y/y. Flatbed loads dropped 15.0% after a decrease of about the same scope in the previous week. Volume was nearly 13% above the same 2024 week but close to 18% below the five-year average.