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Truckload freight volumes cooled in September, compounding an already difficult quarter for truckload carriers and freight brokers, according to stats from DAT Freight & Analytics.
“Seasonality took hold in September,” says Ken Adamo, DAT chief of analytics. “Retailers had not yet replenished inventory ahead of the holidays, produce season was winding down and construction shipments slowed. At the same time, there were no disruptive events to push freight to the spot market. Hurricane season has been mild, and our data showed the United Auto Workers strike had little impact on freight movements in September.”
Key takeaways:
- Seasonally declining shipments of retail goods and fresh produce decreased demand for truckload services last month.
- Van and refrigerated (reefer) indexes were almost 7% lower than in September 2022. The flatbed index was 2.1% higher year over year.
- While volumes declined, diesel prices increased for the fourth straight month. Spot line-haul rates, which subtract an amount equal to an average fuel surcharge, dipped to their lowest points since June 2020.
- DAT’s national average van and reefer load-to-truck ratios failed to gain in September. Load-to-truck ratios measure the number of loads posted to the DAT One marketplace relative to the number of trucks.
