The number of available trucks on the spot truckload market jumped 4.2 percent and the number of posted loads tumbled 4.1 percent during the week ending Nov. 14, according to DAT Solutions, which operates the DAT network of load boards.
The offsetting capacity gain and decline in available loads helped push national average spot market rates down 2 cents for van, refrigerated, and flatbed freight.
The national average spot truckload van rate fell to $1.70 per mile and slipped in key markets including Los Angeles (down 2 cents to $1.99 per mile) and Memphis (down 6 cents to $1.97) despite higher volumes. Van load availability held steady (up 0.5 percent) and capacity increased 3.7 percent. The van load-to-truck ratio was unchanged from the previous week at 1.6 loads per truck, meaning there were 1.6 available van loads for every truck posted on the DAT network.
For refrigerated freight, the national average spot rate fell to $1.92 per mile, although outbound rates rose in major markets including Elizabeth, N.J. (up 10 cents to $1.76) and McAllen, Texas (up 2 cents to $1.68). The number of available reefer loads increased 6.4 percent while truck capacity rose just 1.9 percent, which sent the load-to-truck ratio up 4.4 percent to 4.1 loads per truck.
Flatbed load availability fell 16.7 percent against a gain of 8.9 percent in truck posts. The national flatbed load-to-truck ratio gave up 23.5 percent to 6.2 loads per truck and the national average spot flatbed rate dropped to $1.95 per mile.
The national average price of diesel fell 2 cents to $2.48 per gallon last week. All reported rates include fuel surcharges.
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. 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, visit dat.com/Trendlines. DAT Trendlines is a weekly report on spot market freight availability, truck capacity, and rates.