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Spot truckload rates rose in June despite declines in the number of loads moved, according to research collected by DAT Freight & Analytics.
“The month ended strong for dry van freight, with nearly 25% more volume moving during the final week of June compared to last year,” says Ken Adamo, DAT chief of analytics. “While demand for trucking services entered July on a high note, we expect freight activity to ease during the summer. This remains a challenging market for freight carriers and brokers.”
Key takeaways:
- The DAT Truckload Volume Index (TVI), an indicator of loads moved during a given month, retreated from all-time highs for van and refrigerated (reefer) loads in May, with van TVI: 266, down 9% month over month; reefer TVI: 199, down 11%; and flatbed TVI: 279, down 7%. Year over year, the van and flatbed TVI dipped 3% and 5%, respectively. The reefer TVI was up 7% compared to June 2023.
- National average spot truckload rates increased for the third consecutive month in June, with spot van: $2.07 per mile, up 6 cents; spot reefer: $2.45 a mile, up 4 cents; and spot flatbed: $2.53 a mile, up 1 cent. The average van linehaul rate was $1.64 a mile, up 6 cents compared to May; the reefer rate gained 5 cents to $1.99; and the flatbed rate increased 1 cent to $2.02. Linehaul rates subtract an amount equal to an average fuel surcharge.
- National average rates for contracted van and reefer freight ticked higher.
- National average van and reefer load-to-truck ratios increased for the fourth straight month in June, reflecting a combination of higher demand and fewer trucks in the marketplace.
- Ratios were higher year over year. In June 2023, the average van ratio was 3.5, the reefer ratio was 5.5, and the flatbed ratio was 13.3. Load-to-truck ratios reflect truckload supply and demand on the DAT One marketplace and indicate the pricing environment for spot truckload freight.
