A dip in September freight volumes did little to move truckload rates one way or the other, according to DAT Freight & Analytics.
“The data shows that last month’s upward pricing pressure was not the result of demand, which is a trend worth watching as we approach peak season in October and November,” says Ken Adamo, DAT chief of analytics. “Freight imbalances and changes in available capacity drove rates higher in certain markets, as opposed to volumes.”
Key takeaways:
· Truckload volumes typically decline in September compared to August, and this year was no exception. The DAT Truckload Volume Index (TVI) fell for dry van and refrigerated freight but rose slightly for flatbed loads: Van TVI: 234, down 3% month over month and 2% year over year; Refrigerated (reefer) TVI: 184, down 7% month over month and up 2% year over year; and Flatbed TVI: 307, up 1% month over month and 9% higher year over year.
· National average spot rates increased for all three equipment types in September: Spot van: $2.05 per mile, up 2 cents from August; spot reefer: $2.44 per mile, up 3 cents; and spot flatbed: $2.50 per mile, up 1 cent.
· Average linehaul rates, which exclude an amount equal to an average fuel surcharge, followed a similar pattern. The van linehaul rate rose 2 cents to $1.63 per mile, the reefer rate increased 3 cents to $1.99, and the flatbed rate gained a penny at $2.
· Contract rates showed modest and mixed movement: Contract van: $2.42 per mile, unchanged month over month; contract reefer: $2.76 per mile, up 2 cents; and contract flatbed: $3.06 per mile, down 2 cents.
