US Truckload Spot Market Shows Signs of Recovery

  • US Truckload Spot Market Shows Signs of Recovery

    US Truckload Spot Market Shows Signs of Recovery

    The US truckload spot market appears to be approaching a significant inflection point, with the national average spot truckload dry-van linehaul rate experiencing a slight increase year-over-year for the first time in 27 months. As of Wednesday, DAT Freight & Analytics reported that this rate rose fractionally above $1.65 per mile, matching the rate from June last year.

    According to Dean Croke, Principal Analyst at DAT, this positive trend is expected to continue at least through the Fourth of July holiday. He noted that spot market loads have also turned positive year-over-year, indicating a broader recovery in the truckload market​ (DAT)​​ (DAT)​.

    In May, the DAT Truckload Volume Index (TVI) saw notable increases, with the dry-van component rising by 13% and the refrigerated (reefer) component by 25% compared to the same month last year. Both segments were up by 4% from April. These increases align with the seasonal movement of produce and retail goods, which typically tightens truckload capacity​ (Business Wire)​.

    Additionally, the American Trucking Associations (ATA) reported a 7.1% increase in non-seasonally adjusted truck tonnage from April to May. The seasonally adjusted ATA For-Hire Truck Tonnage Index also showed growth, rising by 3.6% from April and by 1.5% year-over-year. However, the non-seasonally adjusted index indicated only a marginal year-over-year increase, reflecting the predominantly contract freight handled by larger carriers​ (FreightWaves)​.

    Despite these positive indicators, the trucking industry remains cautious. Historically, truckload rates tend to dip after the Fourth of July due to decreased demand in the summer months. Whether the recent gains will persist beyond the holiday remains uncertain and dependent on several factors, including economic conditions and industry-specific dynamics like carrier capacity and demand fluctuations​ (DAT)​​ (Business Wire)​.

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