As more trucks become available for hauling, truck rates have experienced a small decline, according to DAT Solutions in a report.
National average spot rates for dry van, reefers, and flatbeds continue to decline, the company reported earlier this month.
Included in the report:
In a typical seasonal slump, the number of trucks on the spot truckload freight market increased 7.4 percent while the number of loads dipped 10 percent during the week ending January 19, said DAT Solutions, which operates the DAT network of load boards.
National average spot rates declined for the second straight week:
– Van: $2.01/mile, down 4 cents
– Flatbed: $2.38/mile, down 4 cents
– Reefer: $2.37/mile, down 5 cents
Truck posts increased 5 percent while load posts fell 15 percent, which caused the load-to-truck ratio to drop from 6.1 to 4.9 loads per truck. It’s been more than six months since the load-to-truck ratio has been below 5 loads per truck.
Average spot rates were down on several key regional reefer lanes and major markets across the country.
– Los Angeles: $2.92/mile, down 11 cents after an 18-cent decline the previous week
– Atlanta: $2.56/mile, down 5 cents
– Lakeland, Fla.: $1.46/mile, down 9 cents
– McAllen, Texas: $2.24/mile, down 7 cents
– Philadelphia: $2.90/mile, down 5 cents
– Chicago: $2.80/mile, down 14 cents after falling 13 cents the previous week
Below are some examples of truck rates from Oxnard, CA over the past year, which charts the decline in truck.