Reefer rates rise ahead of Thanksgiving 2011

As refrigerated food products were rushed to market prior to the Thanksgiving Day 2011 holiday, spot market freight availability for refrigerated vans climbed 12%.

Reefer rates rose 1.9% nationwide for the seven days ending November 23, according to TransCore’s Truckload Rate Index. Rates and freight volume for reefers are expected to remain high through mid-December.

Thanksgiving week was a mixed bag for other equipment types, however. Van freight volume increased 1.6%, but rates slipped 0.2% nationwide on the spot market compared with the previous week. In a week where van rates for major markets were flat to down, Memphis TN proved to be the exception, with a 2.5% rise in rates on outbound van lanes.

Flatbed rates showed the greatest volatility of the three main trucking transportation modes, as rates slipped 0.7% on an 8.3% decline in freight availability versus the prior week. Dallas TX showed the greatest swing as flatbed rates slid 3.6%, after unusually high rates the previous week.

Spot market rates are rates paid to the carrier by freight brokers and other freight intermediaries.

TransCore’s truckload rate trend of the week is derived from the company’s Truckload Rate Index, based on $17.5 billion annually in actual invoices for reefers, vans, and flatbeds across the United States and Canada. Additional rate information can be found in TransCore Trendlines.

Trendlines is published weekly with spot market and contract market rates, and other indicators from TransCore’s US Freight Index. It is based on more than 60 million loads and trucks posted annually on the DAT Network of load boards by freight brokers, 3PLs, shippers, and carriers across the United States. Trendlines also includes data from the American Trucking Associations and the US Department of Energy.

Access www.transcore.com for further details.

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