DAT: Truckload Volumes Hit 5-Year High in October
November 08 2019 - 1:43PM
October saw more spot market truckload shipments than any other
month since January 2015, according to the DAT Truckload Volume
Index, which reflects changes in the actual number of spot market
loads moved each month. While volumes continued to climb for dry
van, refrigerated (“reefer”) and flatbed freight, truckload rates
have not kept pace.
There was plenty of capacity to handle the increased volume, so
truckload rates fell in October compared to August. A rush of
demand in the final few days of the month created momentum for
higher prices in November, though.
“Shippers were active in advance of the holidays,” said Peggy
Dorf, Market Analyst with DAT Solutions. “And the low rates are
effectively attracting more volume from contract carriers to spot
transportation providers, especially during the busy season.”
Van rates averaged $1.80 per mile in October, including fuel.
That was a 5-cents drop compared to the prior month, and 28 cents
below the October 2018 average. Volume was up 7.3 percent compared
to September.
Apple and other fall harvests led to a peak in reefer traffic in
October, with a 9.2 percent increase month over month. The average
rate was $2.12 per mile, 4 cents lower than the September average
and 30 cents lower than October 2018.
Flatbeds moved 3.4 percent more loads in October compared to
September, but fell just short of August’s peak demand. Flatbed
rates averaged $2.27 per mile, down 3 cents from September and a
20-cent drop from October 2018.
“At this time last year, spot rates began to recede from
record-high pricing,” Dorf added. “So year-over-year comparisons
should become more favorable – or at least less negative – through
the remainder of this year and into Q1.”
About the DAT Truckload Freight Volume
Index
The DAT Truckload Freight Volume Index reflects the change in
the number of loads with a pickup date during that month; the
actual index number is normalized each month to accommodate any new
data sources without distortion. Baseline of 100 equals the number
of loads moved in January 2015, as recorded in DAT RateView, a
database of rates paid on an average of 3 million loads per month.
DAT national average spot rates are derived from RateView and
include only over-the-road lanes with lengths of haul of 250 miles
or more. Spot rates represent the payments made by freight brokers
and 3PL to the carriers.
About DAT
DAT market trends and data insights are derived from 256 million
annual freight matches and a database of $65 billion in annual
market transactions. Related services include a comprehensive
directory of companies with business history, credit, safety,
insurance, and company reviews; broker transportation management
software; authority, fuel tax, mileage, vehicle licensing, and
registration services; and carrier onboarding.
Founded in 1978, DAT Solutions LLC is a wholly owned subsidiary
of Roper Technologies (NYSE:ROP), a diversified technology company
and constituent of the S&P 500, Fortune 1000, and Russell 1000
indices. www.DAT.com
Media ContactEileen Hart, Vice President, Marketing &
Corporate CommunicationsDAT
Solutionseileen.hart@dat.com503-672-5132
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