•Spot rates slide—With more capacity on the market, the national average van rate fell 2 cents to $1.96 per mile (the line-haul portion of the rate slipped 1 cent and the average fuel surcharge lost 1 cent). Despite the average van rate from Los Angeles CA falling 9 cents to $2.00 a mile on congested port traffic, the West was the only region to see average rates rise, including a 4-cent increase out of Denver CO ($1.38 per mile).
The national average flatbed rate was $2.21 per mile, off 4 cents, and the rate for refrigerated freight dipped 2 cents to $2.27.
•Fuel tumbles—The national average fuel price ended the week down 6 cents at $2.87 per gallon. Declining fuel prices tend to have a dampening effect on spot market rates. When fuel prices fall, the surcharge drops and the total rate may decrease accordingly.
Load-to-truck ratios represent the number of loads posted for every truck available on DAT load boards. The load-to-truck ratio is a sensitive, real-time indicator of the balance between spot market demand and capacity. Changes in the ratio often signal impending changes in rates.
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. RateView’s database is comprised of more than $24 billion in freight bills in more than 65,000 lanes.
For complete national and regional reports on spot rates and demand, go to www.dat.com/Trendlines.