Spot truckload rates see Thanksgiving bump for week ending December 1, reports DAT
Spot truckload rates benefitted from Thanksgiving coming later in November this year, coupled with typically hectic end of month activity, for the week of November 24 through December 1, according to data issued this week by Portland, Oregon-based DAT, a freight marketplace platform and information provider and a subsidiary of Roper Technologies.
DAT officials said that spot truckload rates rose sharply on loads that were picked up during the week ending Dec. 1 as brokers tried to attract capacity during the short workweek, adding that the number of loads moved declined and load-to-truck ratios fell for all three equipment types.
Looking at national average rates for November, DAT reported that: van, at $1.83 per mile, was 3 cents higher than the October average; reefer, at $2.18 per mile, was up 7 cents compared to October; and flatbed: $2.11 per mile, was 6 cents lower than October.
DAT reported that average van rates, for the week ending December 1, saw increases on 79 of its top 100 van lanes by volume, with 16 lanes held steady and five lanes averaging lower prices. The firm also cited various lanes with significant average rate increases, including:
- Portland, Ore., to Stockton, Calif., averaged $1.91 per mile, up 30 cents compared to the previous week. Stockton to Portland gained 6 cents to $2.53 per mile;
- Philadelphia to Columbus, Ohio, averaged $1.56 a mile, up 11 cents, while the return rose 9 cents to $2.95 per mile. This lane is associated with retail freight moving to warehouses; and
- Charlotte to Memphis gained 11 cents to $1.59 a mile while the return averaged $2.17 per mile, up 13 cents. Memphis is a hub for truckload freight as well as parcel
On the refrigerated (reefer) side, DAT explained that reefer load-posting activity the week ending December 1 strong and tapered off toward Thanksgiving Day. A reason for this, it explained, is that unlike van posts, reefer load posting activity increased on Friday as goods move through the cold chain to restock grocery stores and distribution centers for the holidays ahead.
