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Spot Freight Rates Move Little; Van, Flatbed Ratios Rise Last Week
Spot market truckload freight rates during the Thanksgiving holiday week remained in the fairly narrow rage they have been the past month, according to DAT Solutions and its network of load boards.
With shippers on a shorter workweek and the roads full of travelers and shoppers, the number of available loads fell 30% as truck capacity dropped 28% during the week ending Nov. 26 compared to the previous seven days. The week-over-week declines in available loads and trucks are in line with expectations given the shorter workweek, according to DAT.
The week began with a flurry of load board activity but it slowed by Wednesday afternoon ahead of the extended weekend. Van and flatbed load-to-truck ratios both increased 1% during the week to 2.9 to 1 and 14.8 to 1, respectively. The refrigerated load-to-truck ratio declined 9% to 6 to 1.
Rates rose on high-traffic lanes but backhaul lanes lost traction, so adjustments to the national averages were small. Reefers increased 1 cent to $1.95 per mile. In contrast, vans and flatbeds posted drops of 1 cent and 2 cents, respectively, with vans averaging $1.66 per mile and flatbeds at $1.89 per mile
The rates include fuel surcharges. The average price of on-highway diesel was unchanged compared to the previous week at $2.42 per gallon.
Van load posts declined 27% and truck posts fell 28% week over week, in line with expectations for a short week. Also, solid rates in key regional markets helped make up for weaker backhaul rates, including
Chicago, $2.11 per mile, up 5 centsDallas, $1.55 per mile, up 2 centsCharlotte, $1.97 per mile, up 5 centsBuffalo, New York, $1.99 per mile, up 1 centLos Angeles, $2.15 per mile, up 3 centsAverage outbound van rates increased in three major Southeast markets last week. The rate rose 7 cents in Atlanta to $1.94 per ...Read the rest of this story
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