Winter storms drive record spot rate spikes across dry van, reefer, and flatbed markets

Last week, the winter weather led to record-breaking boosts in the spot market, according to weekly reports from FTR Transportation Intelligence and DAT Freight & Analytics.

According to FTR, “total broker-posted spot rates in the Truckstop.com system rose during the week ended January 30 (week 4) by the most in a single week since the end of 2023. The 45-cent surge in refrigerated spot rates is the largest on record, at least back to 2008. The 20-cent jump in dry van spot rates is the third largest on record. Flatbed spot rates rose for the 10th time in 11 weeks.”

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 rose 20 cents last week. Year over year, rates are up about 17.5%. Dry van loads increased 39.3%. 

According to DAT: National linehaul spot rates rose $0.11 per mile last week, averaging $2.01 per mile. This rate is 18% higher than last year.

Refrigerated rates and volumes

According to FTR: Spot rates jumped 45 cents last week. Rates were almost 31% higher than last year. Refrigerated loads rose 51.1%.

According to DAT: National linehaul spot rates rose $0.15 per mile last week, averaging $2.49 per mile. This rate is about 23% higher than last year.

Flatbed rates and volumes

According to FTR: Year over year, rates were up about 7%. Flatbed loads rose 69%.

According to DAT: National linehaul spot rates rose $0.01 per mile last week, averaging $2.16 per mile. This rate is about 10% higher than last year.