Truckload freight volumes declined in January following the holiday shipping season, while spot market rates continued to build on December gains, reported DAT Freight & Analytics.
That change was measured by the firm’s DAT Truckload Volume Index (TVI), which measures demand for truckload services. The index declined month over month for van and refrigerated (“reefer”) loads, reflecting a post-holiday slowdown in retail and food shipments: Van TVI: 219, down 4% compared to December; Reefer TVI: 184, down 4%; Flatbed TVI: 257, up 2%.
Despite those softer freight volumes, average spot rates increased in January, particularly for refrigerated and flatbed loads. DAT found that: Spot van rate: $2.32 per mile, up 3 cents from December; Spot reefer rate: $2.81 per mile, up 12 cents; Spot flatbed rate: $2.85 per mile, up 22 cents.
Meanwhile, contract rates stayed stable in January: Contract van rate: $2.48 per mile, up 2 cents month over month; Contract reefer rate: $2.81 per mile, up 2 cents; Contract flatbed rate: $3.04 per mile, down 1 cent.
“Not every spike or dip warrants a response,” Ken Adamo, DAT chief of analytics, said in a release. “What matters is whether the data signals a temporary disruption or a real shift in market fundamentals. January’s numbers didn’t mark a change in loads moved, but they did show how shipper urgency and carrier pricing discipline can push rates up despite softer volumes.”