Truckload Spot Rates Gained in May: DAT Data

Spot truckload rates bounced higher in May as shippers sought capacity to move greater volumes of van and refrigerated freight, according to data released by DAT Freight & Analytics.

“Stronger van and reefer volumes are consistent with May, when shippers move seasonal produce and retail goods and truckload capacity tightens due to the Roadcheck inspection event and Memorial Day holiday,” says Ken Adamo, DAT chief of analytics. “Carrier attrition created further pressure on capacity.”

Key takeaways:

• The DAT Truckload Volume Index (TVI) hit all-time highs for van and refrigerated (reefer) loads, with van TVI: 289, up 4% from April; reefer TVI: 224, a 4% increase month over month; and flatbed TVI: 301, down 2% from April.
• The van and reefer TVI numbers climbed 13% and 25%, respectively, compared to May 2023. The flatbed TVI fell month-over-month for the first time since December 2023.
• Spot prices responded last month, with national average van and reefer linehaul rates within 2% of where they were in May 2023.
• Linehaul rates, which subtract an amount equal to an average fuel surcharge, increased for all three equipment types. The average van linehaul rate was $1.58 a mile, up 5 cents compared to April; the reefer rate jumped 9 cents to $1.94; and the flatbed rate gained 4 cents to $2.01.
• National average rates for contracted van and reefer freight declined compared to April.
• National average van and reefer load-to-truck ratios rose in May. Load-to-truck ratios reflect truckload supply and demand on the DAT One marketplace and indicate the pricing environment for spot truckload freight.