Market truckload rates steady; fuel price drops

For refrigerated freight, the national average spot rate was unchanged at $2.33 per mile. Rates declined in central California and across the Midwest but gained strength elsewhere due to late-season produce harvests. Reefer freight availability slipped another 1.3% compared with the previous week and capacity added 1.2%, producing a reefer load-to-truck ratio of 8.8. Also unchanged was the national average flatbed rate at $2.39 per mile. Load availability lost 2.2% and capacity remained stable (down 0.2%), resulting in a 2.4% decline in the load-to-truck ratio. That key indicator is now at 29.3 loads per truck, which is still strong for the season. The national average fuel price fell two cents to $3.76. Declining fuel prices tend to have a dampening effect on market rates, and diesel fuel is now 17.2 cents less than one year ago. One-time rate agreements typically are quoted as “all-in” so the fuel surcharge is not broken out. When fuel prices slip, the surcharge drops and the total rate may decline accordingly. Load-to-truck ratios represent the number of loads posted for every truck available on DAT load boards. The load-to-truck ratio is a sensitive, real-time indicator of the balance between spot market demand and capacity. Changes in the ratio often signal impending changes in rates. Rates are derived from DAT RateView, which provides real-time reports on prevailing spot market and contract rates, as well as historical rate and capacity trends. RateView’s database is comprised of more than $24 billion in freight bills in more than 65,000 lanes. For complete national and regional reports on spot rates and demand, go to www.dat.com/Trendlines.