After a surge to close out September, the number of posted loads on the spot truckload market dropped 11% during the week ending October 10, 2015, reports DAT Solutions, which operates the DAT network of load boards.
Available capacity increased 3.7% compared with the previous week, which helped push spot truckload rates down across all three equipment types.
The national average truckload van spot market rate slipped 1 cent to $1.73 per mile, with prices lower across several key markets. Los Angeles CA ($1.99 per mile, down a penny), Chicago IL ($1.97, off 5 cents), Dallas TX ($1.58, down 6 cents), and Buffalo NY ($1.95, down 6 cents) all showed losses for the week despite having higher average prices in their regions.
Van load availability fell 15% while truck capacity jumped 5.6% compared with the previous week. The national van load-to-truck ratio declined 19% to 1.6 loads per truck, meaning there were 1.6 available van loads for every truck posted on the DAT network.
Refrigerated load availability dropped 13% while available capacity climbed 2.1%. The national reefer load-to-truck ratio decreased 15% to 3.9 loads per truck, contributing to a 5-cent drop in the national average reefer rate to $1.96 per mile. The average outbound rates from Los Angeles fell 6 cents to $2.46 per mile; Lakeland FL dropped 12 cents to $1.24; and Philadelphia PA slid 8 cents to $2.54.
Flatbed load availability retreated 8.9% and truck posts were down 1.1%, resulting in a 7.9% decline in the flatbed load-to-truck ratio to 10.6 loads per truck. The national average flatbed rate was 2 cents lower at $2.01 per mile.
The national average price of diesel rose 1 cent to $2.49 per gallon the week ending October 10. All reported rates include fuel surcharges.
Rates are derived from DAT RateView, which provides real-time reports on prevailing spot market and contract rates, as well as historical rate and capacity trends. Load-to-truck ratios represent the number of loads posted for every truck available on DAT load boards. The load-to-truck ratio is a sensitive, real-time indicator of the balance between spot market demand and capacity. Changes in the ratio often signal impending changes in rates.
For complete national and regional reports on spot rates and demand, go to www.dat.com/Trendlines.