Weekly Report 43 – 10/26/2021
Rates fall sharply, but spot volume still outpaces seasonal expectations
Total Market demand index
Spot rates remain extraordinarily strong at 19% over the same week last year, but a huge share of that healthy comparison is the recent surge in diesel prices. Excluding fuel surcharges, spot rates were up about 11% from the same 2020 week. Diesel prices in the latest week were more than $1.28 higher than they were in the same week last year. Dry van rates, which eased less than a half cent, were nearly 15% higher year over year. Refrigerated rates declined nearly 8 cents but were nearly 23% higher than the same 2020 week. Flatbed rates also fell 8 cents but were about 20% higher than the same week last year. Excluding fuel surcharges, the year-over-year comparisons for dry van, refrigerated, and flatbed rates were about 6%, 16%, and 12%, respectively.
Dry Van Spot Loads
Dry van was the only segment to post a gain in volume from the prior week as loads postings were up 2%. On average, dry van volume declines 5.3% in week 42, so the segment continued to outpace seasonal expectations, which is not surprising given the ongoing disruptions in the supply chain. Load postings were about 34% higher than the same week last year and nearly triple the five-year average.
Refrigerated Spot Loads
Flatbed Spot Loads