Truckload Volumes Diverged in August

Truckload freight volumes and rates continued on divergent paths in August, with shipments rising and prices falling for the third straight month, according to analytics from DAT Freight & Analytics.

“Linehaul rates were year-over-year positive for the first time since March 2022, a trend that should continue into the fall shipping season,” says Ken Adamo, DAT chief of analytics. “However, year-over-year comparisons are little consolation for truckers looking for better pricing now.”

Key takeaways:

• The DAT Truckload Volume Index (TVI), an indicator of loads moved in a given month, increased for all three equipment types in August: Van TVI: 289, up 2.8% month over month; Refrigerated TVI: 220, up 4.3%; and Flatbed TVI: 287, up 0.3%. The TVI was higher for both van and refrigerated freight compared to August 2023. The van TVI was up 6.3% year over year while the reefer TVI was up 17.6%. The flatbed TVI dipped 0.7% year over year.
• National average spot truckload rates declined for all three equipment types compared to July: Spot van: $2.01 per mile, down 5 cents; Spot reefer: $2.41 a mile, down 4 cents; and Spot flatbed: $2.41 a mile, down 7 cents. The average van linehaul rate was $1.60 a mile, down 3 cents month over month but 3 cents higher than August 2023. The reefer rate fell 2 cents to $1.96, 1 cent higher year over year. The flatbed rate tumbled 5 cents to $1.92, still 2 cents higher year over year. Linehaul rates subtract an amount equal to an average fuel surcharge.
• National average load-to-truck ratios turned lower for all three equipment types: Van ratio: 3.6, down from 4.2 in July, meaning there were 3.6 loads for every van truck on the DAT One marketplace; Reefer ratio: 6.0, down from 6.5; Flatbed ratio: 9.8, down from 11.9. Load-to-truck ratios reflect truckload supply and demand on the DAT One marketplace and indicate the pricing environment for spot truckload freight.