In a last-minute run-up to Thanksgiving, overall load volume increased by 7 percent in the week ending November 20th, led by a 16 percent surge in refrigerated (reefer) freight nationwide. Loads for vans increased by 10 percent, week over week, but load volume for flatbeds was unchanged.
Spot market equipment capacity was relatively stable for the past week, with a decline of less than 1 percent. The result was an 8.3-percent increase in the load-to-truck ratio, a key indicator of the balance between demand and capacity. In the comparable week last year, spot market loads increased substantially for all equipment types, while truck postings remained stable.
National average rates for all equipment types were almost unchanged, but the stability masked strong regional trends on the spot market. Substantial rate increases and decreases canceled each other out, to create a nationwide average that remained steady, week over week. To learn more about specific regional patterns join the discussion about the Rate Trend of the Week, a new feature of TransCore's Freight Talk Blog. Spot market rates are broker/3PL-to-carrier buy rates, and are more dynamic than longer term, shipper-to-carrier contract rates.
