Spot market freight availability jumped 24% in January, due primarily to the unusual weather patterns around the country, DAT said.
More freight flowed into the spot market in both December and January as shippers and their contracted carriers struggled to meet capacity challenges caused by extreme weather, the firm said.
Year-over-year freight volumes were up 45% to a level not seen since October 2005, when pent-up demand in the wake of Hurricane Katrina drove volume to an all-time high, DAT reported in its North American Freight Index. Van freight increased 52%; reefer loads added 83%, and flatbed freight nearly doubled, with a 93% increase, compared to January 2013.
Load availability in January rose 21% for both vans and reefers, while flatbed loads increased 33%, compared to the prior month.
Rates in the spot market also remained unusually high in January, despite a slight decline from December. Average rates dipped 1.4% for vans, 0.6% for reefers and 5.5% for flatbeds. Compared to January 2013, rates rose 16% for vans, 4.7% for reefers, and 4.0% for flatbeds.
Additional trend information and analysis is available at DAT.com.
Reference rates are derived from DAT RateView. Rates are cited for line haul only, excluding fuel surcharges, which increased on a month-over-month basis but declined compared to January 2013. The monthly DAT North American Freight Index reflects spot market freight availability on the TransCore DAT network of load boards in the United States and Canada.
