Spot volumes steady. Are rates ready to spring?

After a chilly start to 2019, spot truckload volumes and rates look like they’re starting to thaw.

The number of load posts on the DAT network of load boards climbed 4% while truck posts fell 2% during the week ending Feb. 16.

Reefers remain in a seasonal decline but volumes rose and capacity tightened for vans and flatbeds, which elevated load-to-truck ratios in both segments:

• Van L/T ratio: 4.8, up 4%
• Flatbed LT ratio: 27, up 12%
• Reefer L/T ratio: 5.8, down 1%

National average spot rates slipped but remain solid compared to previous years:

• Van: $1.90/mile, down 1 cent
• Flatbed: $2.33/mile, down 1 cent
• Reefer: $2.23/mile, down 2 cents

Van trends

Spot volumes firm up: Van load posts increased 2% while truck posts fell 2%. Van volumes appear to be firming up about a month ahead of schedule.

Van rates in balance: Rates rose on 47 of the top 100 van lanes last week and drifted lower on 40. Rates were unchanged on the remaining 13 lanes; that’s a big number and a signal that rates are at or near the bottom for winter.

Weather and rates: For an example of how weather affects rates, look at Seattle to Spokane. Snow and ice periodically shut down I-90 last week, and Seattle to Spokane — a typically weak lane — jumped 31 cents to an average of $3.54/mile.

Flatbed trends

Volumes build ahead of construction season: The number of flatbed load posts was up 7% last week while truck posts dropped 5%, a sign that seasonal construction activity is picking up.