Rates Tumble as Spot Load Availability Rises

The total number of loads posted on DAT load boards rose 2.5 percent during the week, nearly matching the increase in the number of equipment posts (2.6 percent).

A balance of available loads and capacity generally means little movement on rates. Indeed, the national average van rate dropped 2 cents to $1.77 per mile as the van load-to-truck ratio fell 1.2 percent to 1.8, meaning there were 1.6 available van loads for every truck posted on the DAT network. Key markets, including Los Angeles (down 5 cents to $2.02 per mile), Chicago (down 3 cents to $1.96), Dallas (off 3 cents to $1.70), and Atlanta (down 5 cents to $1.79), all saw declines in average outbound van rates.

In the reefer market, the national average spot truckload rate dipped 1 cent to $2.04 per mile. Load volume increased 2.0 percent but lagged behind a 4.5 percent jump in equipment availability, which helped send the reefer load-to-truck ratio down 2.4 percent to 4.5 loads per truck.

Flatbed load availability recovered 3.7 percent last week and capacity declined 1.0 percent, pushing the flatbed load-to-truck ratio up 4.8 percent to 12.8 loads per truck. The national average rate for flatbeds dropped 8 cents to $2.07 per mile compared to the previous week, including a 1-cent drop in the fuel surcharge.

The national average price of diesel was unchanged at $2.62 per gallon. All reported rates include fuel surcharges.

Source: DAT Solutions