Weekly Report 02 – 01/11/2022
Spot volume sees typical post-holiday rebound
Total spot load postings in the system jumped 43.7% during the week ended January 7 (week 1), following the typical pattern of a rebound after a holiday lull. Loads were up in all segments, including a modest gain in refrigerated to surpass the record posted during the prior week. Dry van volume was the second-highest on record after a weather-related spike last February. Rates fell 10 cents from the prior week’s record, but flatbed rates saw their strongest gain in 10 weeks.
Spot volume invariably rises sharply during the first week of the year compared to the final week of the previous year. Disruptions due to winter weather in much of the U.S. also likely contributed to the strength in load postings, although supply chain disruptions had already maintained a high floor on volume. Weather-related disruptions also might have muted declines in rates that typically occur during the first week of the year.
Total Market demand index
Dry Van Spot Loads
Dry van load postings jumped 45.6% after rising about 18% during the final week of 2021. Dry van volume was the strongest on record except for a week in mid-February 2021 that was attributed mostly to extreme winter weather. Load postings were about 48% higher than the same 2021 week and nearly 168% higher than the five-year average for the week.
Refrigerated Spot Loads
Flatbed Spot Loads
Total Spot Rates
Total spot rates were nearly 24% higher than the same 2021 week. Rates excluding fuel were about 18% higher year over year. Dry van and refrigerated rates declined from the records set during the final week of 2021. Dry van rates eased nearly 4 cents and were about 18% higher than the same 2021 week. Refrigerated rates fell nearly 14 cents after surging 68 cents during the final two weeks of 2021. Refrigerated rates were about 34% higher than in the same 2021 week. Flatbed rates rose nearly 4 cents and were about 19% higher year over year.