Data from Truckstop.com and FTR Transportation Intelligence for the week ending Oct. 1 showed continued small increases in spot volume with the dry van segment leading the way.
Indeed, the level of dry van load postings in the latest week was the second highest on record, surpassed only by a mid-February spike related to extreme winter weather. Total spot volume was essentially the same as the week before the Independence Day holiday, which indicates the market is outpacing historical expectations.
Supply chain disruptions have kept volume stronger than seasonal expectations. On average during the period of 2015 through 2019, load volume for week 39 of the year was about 15% lower than week 26.
Spot rates including fuel, which barely changed during the week, were about 20% higher than the same 2020 week. Although rates technically are down for the fourth straight week, they are largely holding firm and outpacing seasonal expectations.
Although the experience differed by segment, total truck postings rose by the same degree as load postings rose, so the Market Demand Index was unchanged at 164.9, which is the highest level since the end of June.
The daily high point for available loads last week was 1,149,000 and Truckstop.com noted it had four days of over one million loads posted.
Rates stayed even at $2.95/mile. Van rates saw an increase of 4 cents to $2.79 per mile. Flatbed stayed even at $2.91 and reefer decreased 7 cents per mile to $3.33.
