Spot truckload freight volumes settled lower in February, driven by a mix of seasonal slowing, winter weather, and shipper concerns about tariffs and economic volatility, according to DAT Freight & Analytics.
“Freight shippers and brokers were eager to put February behind them, despite favorable spot rates for van and reefer freight,” says Ken Adamo, DAT chief of analytics. “However, uncertainty about the economy and the artificial acceleration of freight movements ahead of tariff deadlines may lead to a flattened peak shipping season in spring and early summer.”
Key takeaways:
- The DAT Truckload Volume Index (TVI), a measure of dry van, refrigerated (reefer), and flatbed loads moved in a month, decreased for van and reefer freight:
Van TVI: 258, down 8.5% compared to January
Reefer TVI: 212, down 11.3%
Flatbed TVI: 263, up 0.4%
- Year-over-year comparisons were positive, with the van TVI up 5%, reefer TVI increasing 9%, and flatbed TVI rising 2.7% vs. February 2024.
- Average spot market rates for van and reefer loads declined to pre-holiday-season levels:
Van: $2.04 per mile, down 11 cents from January
Reefer: $2.36 per mile, down 18 cents
Flatbed: $2.45 per mile, up 1 cent
- While spot rates declined in February, contract freight rates were relatively stable:
Contract Van: $2.43 per mile, down 1 cent month over month and 7 cents lower than February 2024.
Contract Reefer: $2.75 per mile, unchanged from January and 14 cents lower year over year.
Contract Flatbed: $3.05 per mile, down 2 cents month over month and 7 cents lower year over year.
