Spot Market Results: Loads and Rates Drop

Spot Market Sees Seasonal Rate Declines After Early July Peak

Spot Market rates continue seasonal decline

The Spot Market continued its expected seasonal cooldown during the week ending July 17 (Week 28), with broker-posted rates falling across all three major equipment types. After reaching the traditional mid-year peak in early July, freight activity continued to normalize as volumes eased and rates moved lower.

According to the latest Truckstop.com data from FTR, dry van and refrigerated spot rates each declined by just over 8 cents per mile, while flatbed rates posted a fifth consecutive weekly decrease. Although seasonal trends typically point to additional declines in the coming week, analysts noted that the recent increase in diesel prices could slow or temporarily reverse that pattern.

Total Spot Market loads decline after holiday rebound

Total Spot Market load activity fell 5.8% from the previous week to 166.8 after rebounding nearly 25% during the week following the July 4 holiday.

Even with the weekly decline, freight demand remained stronger than it was a year ago. Total load volume was nearly 23% higher than during the same week in 2025, although that represented the weakest year-over-year comparison seen in the past 15 weeks.

Truck postings moved in the opposite direction, increasing 5.8% after three consecutive weekly declines. As a result, the Market Demand Index, which measures the ratio of available loads to available trucks, slipped to its second-lowest level since February, indicating that capacity became more readily available.

Spot Market rates fall across all equipment types

The overall broker-posted Spot Market rate declined 4.7 cents to $3.46 per mile after falling nearly 14 cents during the previous week.

Despite the weekly decline, rates remained well above last year’s levels. All-in rates were 47.5% higher than during the same week in 2025, while rates excluding estimated fuel costs were approximately 56% higher.

FTR noted that although most spot market carriers do not receive fuel surcharges, the fuel-adjusted calculation provides an estimate of how much of the freight rate is being used to offset rising diesel costs. The current calculations reflect the sharp increase in diesel prices recorded during the week ending July 13 but do not include any additional fuel price changes that occurred afterward.

Broker-posted rates for dry van, refrigerated, and flatbed equipment all remained roughly 40% to 50% higher than they were one year ago.

Dry van Spot Market rates fall while West Coast shows strength

Dry van spot rates declined just over 8 cents to $2.88 per mile after dropping about 14 cents during the previous week.

Compared to the same week in 2025, all-in dry van rates remained approximately 47% higher, while fuel-adjusted rates were about 55% higher.

Regionally, rates increased slightly for loads originating on the West Coast, while declines were recorded across every other region. The largest decreases occurred in the Southeast and Northeast.

Dry van load volume fell 7.8% week over week following the post-holiday rebound. However, load activity still remained more than 18% higher than the same week last year. Most regions experienced lower freight volumes, although the West Coast and Northeast posted modest increases.

Refrigerated freight continues to cool

Refrigerated spot rates also declined just over 8 cents, bringing the average rate to $3.37 per mile after dropping more than 26 cents during the previous week.

Compared to the same period in 2025, refrigerated all-in rates remained 41% higher, while fuel-adjusted rates increased roughly 46%.

The largest regional declines occurred in the Southeast and Midwest, while the West Coast recorded a sharp increase in refrigerated rates. Other regions saw relatively minor changes.

Refrigerated load volume declined 6.7% after recovering about 10% during the previous week. Even so, load activity remained 5.5% above year-ago levels. Load postings fell significantly in the South Central and Southeast regions but were mixed across the rest of the country.

Flatbed rates post fifth straight weekly decline

Flatbed spot rates fell more than 3 cents to $3.64 per mile, marking the fifth consecutive weekly decline.

Even with the recent pullback, flatbed rates continued to outperform last year’s levels. All-in rates were about 50% higher than the same week in 2025, while fuel-adjusted rates were more than 57% higher.

The Northeast was the only region to post a modest increase in flatbed rates. All other regions recorded declines, with the largest drops occurring in the Southeast and South Central.

Flatbed load volume decreased 7.3% after jumping roughly 31% during the previous week. Compared to last year, however, load activity remained about 27% higher, although it represented the softest year-over-year comparison in 15 weeks. Load postings increased slightly on the West Coast but declined across the rest of the country.

Diesel prices could influence the next Spot Market update

Seasonal trends typically point to additional Spot Market rate declines during the current week as freight demand continues to normalize following the early July peak.

However, analysts noted that the recent rise in diesel prices could provide some support for all-in freight rates if carriers begin adjusting pricing to account for higher operating costs. Whether fuel costs outweigh normal seasonal patterns will become clearer in the next weekly Spot Market report.