DAT: After a robust May, truckload volumes slipped in June
BEAVERTON, Ore., July 17, 2024 - Spot truckload rates rose in June despite declines in the number of loads moved, said DAT Freight & Analytics, which operates the DAT One freight marketplace and DAT iQ data analytics service.
The DAT Truckload Volume Index (TVI), an indicator of loads moved during a given month, retreated from all-time highs for van and refrigerated (“reefer”) loads in May:
Van TVI: 266, down 9% month over month Reefer TVI: 199, down 11% Flatbed TVI: 279, down 7% Year over year, the van and flatbed TVI dipped 3% and 5%, respectively. The reefer TVI was up 7% compared to June 2023.
“The month ended strong for dry van freight, with nearly 25% more volume moving during the final week of June compared to last year,” said Ken Adamo, DAT Chief of Analytics. “While demand for trucking services entered July on a high note, we expect freight activity to ease during the summer. This remains a challenging market for freight carriers and brokers.”
Spot rates rose for all three equipment types
National average spot truckload rates increased for the third consecutive month in June:
Spot van: $2.07 per mile, up 6 cents Spot reefer: $2.45 a mile, up 4 cents Spot flatbed: $2.53 a mile, up 1 cent The average van linehaul rate was $1.64 a mile, up 6 cents compared to May; the reefer rate gained 5 cents to $1.99; and the flatbed rate increased 1 cent to $2.02. Linehaul rates subtract an amount equal to an average fuel surcharge.
National average rates for contracted van and reefer freight ticked higher:
Contract van rate: $2.44 per mile, up 1 cent Contract reefer rate: $2.81 a mile, up 2 cents Contract flatbed rate: $3.14 a mile, down 2 cents Van and reefer load-to-truck ratios increased
National average van and reefer load-to-truck ratios increased for the fourth straight month in June, reflecting a combination of higher demand and fewer trucks in the marketplace:
Van ratio: 4.7, up from 4.4 in May, meaning there were 4.7 loads for every van truck on the DAT One marketplace Reefer ratio: 7.0, up from 6.3 Flatbed ratio: 14.6, down from 18.0 Ratios were higher year over year. In June 2023, the average van ratio was 3.5, the reefer ratio was 5.5, and the flatbed ratio was 13.3.
Load-to-truck ratios reflect truckload supply and demand on the DAT One marketplace and indicate the pricing environment for spot truckload freight.
About the DAT Truckload Volume Index
The DAT Truckload Volume Index reflects the change in the number of loads with a pickup date 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 per month.
DAT benchmark spot rates are derived from invoice data for hauls of 250 miles or more with a pickup date during the month reported. Linehaul rates subtract an amount equal to an average fuel surcharge.
About DAT Freight & Analytics
DAT Freight & Analytics operates both the largest truckload freight marketplace and truckload freight data analytics service in North America. Shippers, transportation brokers, carriers, 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 $150 billion in annual freight market transactions.
Founded in 1978, DAT is a business unit of Roper Technologies (Nasdaq: ROP), a constituent of the Nasdaq 100, S&P 500, and Fortune 1000. DAT is headquartered in Beaverton, Oregon.