Spot market loads increase as national rates level off

Shippers and brokers posted 4.1% more loads during the week ending February 20, 2016, while the number of available trucks fell 2.0%, according to DAT Solutions, which operates the DAT network of load boards.

Falling national average spot rates leveled off compared with recent weeks, indicating the start of a possible rise heading into spring.

In the van market, load posts increased 4% while available capacity declined 3%. The van load-to-truck ratio rose marginally from 1.3 to 1.4 loads per truck, meaning there were 1.4 van loads for every truck posted on the DAT network. Compared with the previous week, the national average van rate was unchanged at $1.58 per mile.

The number of reefer load posts declined 6% while truck posts added 1% the week ending February 20. As a result, the load-to-truck ratio fell 7%, from 3.1 to 2.9 loads per truck. The national average reefer rate dropped to $1.83 per mile on a 1-cent fuel surcharge decline.

The national average diesel price was unchanged at $1.98 per gallon. On the spot market, freight brokers usually quote a one-time price that includes both a linehaul portion and a fuel surcharge; as such, falling fuel prices influence spot market rates significantly.

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. 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.

For complete national and regional reports on spot rates and demand, go to www.dat.com/Trendlines.