NEW PLYMOUTH, Idaho — Following three straight weekly gains, total broker-posted spot rates in the Truckstop system posted their largest decrease since mid-July during the week ending Sept. 15 (week 37).
Rates declined substantially for all equipment types, led by refrigerated, which had risen about 29 cents over the previous seven weeks. Dry van also gave back a large portion of that segment’s rate gains over the past six weeks. Flatbed’s rate decrease represented a return to a downward trend after two weeks of gains.
Total load activity rebounded 17.6% during the week following Labor Day week. Volume was more than 15% below the same week last year and almost 24% below the five-year average for the week. Volume rose in all regions week over week. Truck postings increased 13.3%, and the Market Demand Index — the ratio of loads to trucks — rose to its highest level since the end of June.
The total broker-posted rate fell about 4.5 cents after rising about 2 cents in the previous week. Rates were almost 11% below the same 2022 week — the least negative year over year comparison since August 2022 — and nearly 5% below the five-year average. Comparisons year over year are stable at 4% to 5% versus a spot market that had fully normalized by August of last year.
Dry van spot rates fell nearly 5.5 cents after rising 8 cents over the prior three weeks. Rates were nearly 9% below both the same week last year — the least negative year over year comparison since April 2022 — and almost 10% below the five-year average. Dry van loads rose 11.5%. Volume was about 14% below the same 2022 week and nearly 20% below the five-year average.
Refrigerated spot rates fell nearly 10 cents for the largest decrease since the week that included the Independence Day holiday. Rates were nearly 7% below the same 2022 week and more than 6% below the five-year average. Refrigerated loads increased 4.5%. Volume was more than 25% below the same week last year and almost 24% below the five-year average for the week.
Flatbed spot rates declined more than 3.5 cents after posting the largest increase since early February during the previous week. Rates, which were about 14% below the same 2022 week and more than 3% below the five-year average, are still slightly higher than they were several weeks ago, but they have not clearly bottomed out. Flatbed loads jumped 26.6% to the strongest level since mid-July. Volume was nearly 14% below the same week last year — the least negative year over year comparison since early March 2022 — and about 32% below the five-year average for the week.
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.