Spot rates dip 2 cents in all three trailer types as load boards loosen

U.S. truckload spot rates slipped in every trailer type last week. They are still far above last year's levels.

DAT Freight & Analytics posted its weekly reports for the week ending October 24 on October 26. All rates are linehaul, excluding fuel.

The board

| Trailer | Rate per mile | Week over week | Year over year | vs. 9-year seasonal avg | Load-to-truck ratio | |---|---|---|---|---|---| | Dry van | $2.24 | -$0.02 (-0.7%) | +$0.55 (+32.8%) | +23.5% ($1.82) | 9.51 (from 9.70) | | Flatbed | $2.63 | -$0.02 (-0.9%) | +$0.58 (+28.2%) | +25.8% ($2.09) | 34.93 (from 36.53) | | Reefer | $2.73 | -$0.02 (-0.9%) | +$0.65 (+31.4%) | +28.6% ($2.12) | 14.79 (from 15.77) |

Dry van

Van load posts fell 2.1% and truck posts slipped 0.2%. Against a year ago, load posts are up 16.9% while truck posts are down 25.9%. The ratio a year ago was 6.03.

California was the strongest origin at $2.58, up 2 cents. The Southeast fell 6 cents.

DAT's 35-day forecast holds van near $2.24, in a range of $2.17 to $2.31.

Flatbed

The flatbed board, still the tightest of the three, eased as truck posts rose 3.3% and load posts fell 1.2%. The ratio was 23.06 a year ago and is now 3.7 times the van ratio.

DAT forecasts $2.59, in a range of $2.52 to $2.65.

Reefer

Reefer load posts dropped 4.7% and truck posts rose 1.6%. Load posts are 4.4% lower than a year ago. The ratio a year ago was 12.36.

No top-10 reefer region gained. The Lower Midwest fell 17 cents to $3.16.

USDA produce volume rose 7% from the week before but was 3% below last year, DAT said. Its forecast calls for $2.78, in a range of $2.70 to $2.86.

The read

Loads are thinning slightly, but trucks are not coming back fast. Truck posts on the van board are still about a quarter below a year ago, and that keeps rates high even as demand cools.