Load weakness, low diesel prices drive down spot rates
Spot-market load availability fell 5.6% during the week ending Feb. 6, with the number of van and refrigerated loads dropping 17% and 12%, respectively, according to DAT Solutions, which operates the DAT network of load boards.
The combination of fewer posted loads and 2.5% more capacity helped hold rates down compared to the previous week. Declining fuel prices also played a role: diesel prices fell 3 cents to a national average of just under $2.01 per gallon, an 11-year low. Freight brokers usually quote a one-time rate that includes both the line-haul rate and the fuel surcharge.
The national average van rate edged down 3 cents to $1.62 per mile, while the reefer rate fell 3 cents to $1.85 per mile. The average flatbed rate was unchanged at $1.85 per mile compared to the previous week.
Rates are derived from DAT RateView, which provides real-time reports on prevailing spot market and contract rates, as well as historical rate and capacity trends. All reported rates include fuel surcharges.
Load-to-truck ratios represent the number of loads posted for every truck available on DAT load boards, and the ratio is a sensitive, real-time indicator of the balance between spot market demand and capacity, DAT notes. Changes in the ratio often signal impending changes in rates.
For complete national and regional reports on spot rates and demand, visit dat.com/Trendlines. DAT Trendlines is a weekly report on spot market freight availability, truck capacity, and rates.