BLOOMINGTON, Ind. — According to the latest numbers from Truckstop, refrigerated spot rates surged in the week ended May 3 (week 18) while total load activity saw a respectable 3.9% rise after dropping 3% in the previous week.
“Refrigerated spot rates often rise sharply during the same week of the year in the run-up to Mother’s Day (because of flower deliveries) although the increase was the largest for a week 18 over at least the past decade except for 2021 when the week coincided with International Roadcheck,” according to Truckstop. “Dry van spot rates rose after two down weeks while flatbed rates declined for a second straight week.”
Total loads
Total load activity rose 3.9% after declining nearly 3% during the previous week. Total volume was just barely (0.3%) above the same 2023 week but was nearly 33% below the five-year average for the week. Total truck postings fell 6.9%, and the Market Demand Index — the ratio of load postings to truck postings in the system — increased to its highest level in three weeks.
Total rates
The total broker-posted rate was essentially flat week-over-week, declining a tenth of a cent. Rates were nearly 4% below the same 2023 week and almost 6% below the five-year average for the week. Total spot rates were basically unchanged despite the large gain in refrigerated spot rates because of the decrease in flatbed spot rates, which accounted for a far greater proportion of rates posted during the week.
Dry van spot rates
Dry van spot rates increased 4 cents after declining 3 cents in the previous week. Rates were nearly 2% higher than the same 2023 week but about 8% below the five-year average. Dry van loads increased 5.8% from the previous week. Volume was about 4% below the same 2023 week and nearly 33% below the five-year average for the week.
Refrigerated spot rates
Refrigerated spot rates soared around 16 cents after rising about 5 cents during the previous week. Rates were nearly 3% above the same 2023 week for the strongest year-over-year comparison since the fourth week of this year. Refrigerated rates were about 5% below the five-year average for the week. Refrigerated loads jumped 10.8% above the prior week for the largest increase since the weather-impacted third week of the year. Volume was about 5% below the same 2023 week and 34% below the five-year average for the week.
Flatbed spot rates
Flatbed spot rates dropped 1.4 cents after falling 3.5 cents in the prior week. Rates were more than 5% below the same 2023 week and about 5% below the five-year average for the week. Flatbed loads increased 2.3% from the previous week after falling for five straight weeks. Volume was about 4% above the same week last year but nearly 37% 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.
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