BEAVERTON, Ore.–(BUSINESS WIRE)–Truck demand in the spot market increased in December, suggesting strong retail and grocery sales ahead of the holidays, said DAT Freight & Analytics, which operates the freight market. DAT One and DAT iQ. data analysis service.
The Refrigerated Van and Truck Freight Volume Index (TVI) increased modestly compared to November:
- Van TVI: 260, an increase of 2.4%
- Refrigerated TVI: 220, an increase of 3%
- Flat surface TVI: 237, 5% less
Year over year, van and reefer TVI increased 12% and 20%, respectively, and flatbed TVI was 7% higher.
December freight volumes were strong despite calendar quirks, said Ken Adamo, head of analysis at DAT, noting that Christmas fell on a Wednesday and there were only three non-holiday weeks between Thanksgiving and the end of the year. The combination of seasonal volumes, fewer shipping days and truckers taking time off during the holidays led to higher spot prices compared to November. Net fuel, the van rate was the highest monthly average since January 2023.
Truck Freight Rates Increased
National average spot rates increased for all three types of equipment:
- Spot van: $2.11 per mile ($1.74 net fuel), 9 cents more than November
- Cooler cash: $2.47 ($2.06 net fuel), 2 cents more
- Cash flat box: $2.39 ($1.94 net fuel), 2 cents more
National average pickup truck and flatbed rates rose last month:
- Contract van rate: $2.42 per mile, 2 cents more
- Refrigerated contract rate: $2.74 per mile, unchanged
- Flatbed contract rate: $3.06 per mile, 3 cents more
The difference between van and refrigerated spot and contract rates narrowed for the fourth consecutive month and was the smallest since March 2022, when spot rates entered a severe deflationary period, Adamo said. When the gap between spot and long-term contract rates trends down, it is a sign that capacity is shrinking and bargaining power is shifting toward truckload carriers.
About the DAT Truck Freight Volume Index
The DAT Truck Load Volume Index reflects the change in the number of loads scheduled for pickup during that month. A baseline of 100 equals the number of loads moved in January 2015, as recorded in DAT RateView, a truckload pricing database and analysis tool with rates paid on an average of 3 million loads. monthly.
DAT’s reference spot rates are derived from invoice data for trips of 250 miles or more with a pickup date during the reported month. Linehaul rates subtract an amount equivalent to an average fuel surcharge.
About DAT Freight & Analytics
DAT Freight & Analytics operates both the truck freight marketplace and the largest truck freight data analytics service in North America. Shippers, freight brokers, shippers, news organizations and industry analysts rely on DAT for market trends and data insights based on more than 400 million annual freight matches and a database of data on $150 billion in annual freight market transactions.
Founded in 1978, DAT is a business unit of Roper Technologies (Nasdaq: NASDAQ:), a member of the Fortune 1000. DAT is headquartered in Beaverton, Oregon. Visit dat.com for more information.
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Contact DAT
Georgia Jablon
PR@dat.com / georgia.jablon@dat.com
Source: DAT Freight & Analytics