Weekly Report 07 – 02/15/2022

Overall spot metrics changed little in the latest week

Although the spot market saw notable differences by segment and region, the total market as reflected in the system saw little movement during the week ended February 11 (week 6). Spot load postings increased 2%, and rates were basically
unchanged. Dry van and flatbed saw higher volume and rates, but refrigerated was weaker in both categories. Rates did not vary substantially by region, but two regions – Midwest and South Central – accounted for almost all the gain in volume.

Total Market demand index

Truck postings declined 1.6% after a significant gain (12.7%) in the prior week. The Market Demand Index – the ratio of loads to trucks in the system – increased slightly and remains stronger than before the holidays. The MDI was up in dry van and flatbed but was down in refrigerated, which saw a significant increase in truck postings in addition to a small decline in loads.

Dry Van Spot Loads

Dry van load postings edged up 0.8% after a decline of about the same degree during the prior week. Volume was up in the South Central, Midwest, and Southeast regions but down elsewhere. Load postings were about 42% higher than the same 2021 week and about 171% above the five-year average for the week.

Refrigerated Spot Loads

Refrigerated volume eased 1.2% after rising 6.8% during the previous week. Load postings were up sharply in the Southeast and higher on the West Coast as well but down elsewhere. Volume was about 52% higher than the same 2021 week and basically, triple the five-year average.

Flatbed Spot Loads

Flatbed load postings increased 4.4% after falling 13% during the prior week. Volume surged in the Midwest and was also up in the South Central and Mountain Central regions. Load postings were 19% higher than the same week last year and about 129% above the five-year average.

Total Spot Rates

Total spot rates were basically flat week over week, although a sharp increase in fuel prices – the national average price of diesel had jumped more than 10 cents during the prior week – kept rates from falling. Total rates were 21% higher than the same week last year. Excluding fuel, rates were less than 14% higher than the same 2021 week. Dry van rates increased a bit more than 1 cent and were about 25% higher than the same week last year. Refrigerated rates fell nearly 6 cents and were about 30% higher year over year. Flatbed rates increased about 2 cents and were nearly 18% higher than the same 2021 week.