Spot rates rise sharply as trucking market enters late December peak season

Last week, spot rates saw significant increases, according to weekly reports from FTR Transportation Intelligence and DAT Freight & Analytics.

According to FTR, dry van rates saw their highest levels since January 2023. The firm noted that “A spot rate surge was inevitable in late December but typically not this early in the month. Still, variations in when holidays fall during the week can disrupt seasonal expectations, so any confirmation of a sustained market shift must wait until at least January.”

Here is how rates and volumes changed across the three major spot market equipment types:

Dry van rates and volumes

According to FTR: Spot rates jumped over 11 cents last week. Year over year, rates are up around 11%. Dry van loads increased 3.1%.

According to DAT: National linehaul spot rates rose $0.07 per mile last week, averaging $1.96 per mile. This rate is 11% higher than last year.

Refrigerated rates and volumes

According to FTR: Spot rates rose almost 9 cents last week. Rates were nearly 14% higher than last year. Refrigerated loads rose 10.6%.

According to DAT: The national 7-day rolling average for spot rates rose $0.08 per mile week over week, reaching $2.29. This rate is 12% higher than last year.

Flatbed rates and volumes

According to FTR: Spot rates rose just under 5 cents last week. Year over year, rates increased by more than 7%. Flatbed loads rose 0.5%.

According to DAT: National linehaul spot rates rose $0.05 per mile last week, averaging $2.12 per mile. This rate is 6% higher than last year.