Week 21 Spot Market Results: Dry Van and Reefer Up, Flatbed Down

Spot Market Holds Steady as Van Rates Rise in Week 21

Load Volume Mixed Across Equipment Types

The spot market saw little overall change in load volume during the week ending May 30 (Week 21), according to data from FTR Transportation Intelligence. Total load postings dipped slightly by 0.1% from the prior week, but the numbers varied depending on equipment type.

Dry van load postings increased by 6.7%, making it the strongest week for dry van freight since mid-January. Refrigerated loads also saw a boost, rising 3.2% and reaching their highest level since late March. However, flatbed load volume fell by 5.6%, continuing a downward trend after a short recovery earlier in May.

Compared to the same week in 2024, total spot market volume was down 9%. Dry van and refrigerated loads were slightly higher year over year, while flatbed freight remained well below last year’s levels.

Market Rates Show Mixed Trends

Spot market rates posted only a small change overall. Total broker-posted spot rates dropped by 0.4 cents per mile from the previous week. Dry van rates climbed for the third straight week, rising 1.8 cents per mile. This was the second-highest weekly rate for dry vans over the past year, behind only the final week of 2024.

Refrigerated rates also edged up, increasing 1.1 cents. On the other hand, flatbed rates declined by 2.7 cents, showing weakness in that segment of the market.

Market rates for all equipment types were about 6% lower than the same week last year. When adjusted for fuel prices, rates were down nearly 3% year over year.

Truck Postings Increase Slightly

While load volume stayed nearly flat, the number of trucks posted on the spot market rose by 3.1%. This added to looser capacity across the board. As a result, the load-to-truck ratio declined for dry van, refrigerated, and flatbed freight.

Despite the drop in capacity tightness, the dry van segment still showed signs of strength, with higher load volume and rising spot market rates.

Spot Market Impacted by Early Produce Season

The beginning of the produce season is starting to show up in the refrigerated segment of the spot market. Both load volume and rates for refrigerated freight have increased over the past two weeks. Still, the changes are moderate for this time of year.

FTR also noted that Memorial Day’s timing might have influenced results. Since the holiday fell on Monday, May 26, it was included in the previous week’s data, which could affect comparisons with earlier years.

Spot Market Outlook: Gradual Strength in Van and Reefer

Flatbed freight continues to lag, but the dry van and refrigerated segments of the spot market are gaining ground. Dry van volume hit its highest level in several months, and both van and reefer rates continued to improve.

While the total spot market remains below last year’s levels, the rate of decline has slowed. If fuel prices continue rising and demand holds steady, tighter capacity could lead to stronger rates in the coming weeks.