Latest Spot Market Rates: Mixed Signals in Week 3

Latest Spot Market Result: Van Rates Dip, Storm Looms

The spot market showed mixed results during the week ended January 23 (Week 3). Broker-posted rates for dry van and reefer freight fell again, which followed the usual post-holiday pattern. However, a massive winter storm over the weekend could push the spot market higher during the current week.

At the same time, flatbed rates rose for the ninth time in 10 weeks. They reached their highest level since mid-2025. Under normal conditions, van rates would keep easing. This time, though, weather risks may change that trend.

Load Activity Slows Again

Total load activity fell 2.8% after a similar drop the prior week. Even so, year-over-year numbers stayed strong due to an extreme comparison from early 2025. Load postings came in nearly 38% higher than the same week last year. However, volume remained close to 9% below the five-year average for Week 3.

Meanwhile, truck postings increased 1.5%. As a result, the Market Demand Index declined from the prior two weeks. Even so, it remained the strongest since April 2025.

Overall, the spot market still showed solid demand compared to last year, even with the seasonal slowdown.

Spot Market Broker-Posted Rates Hold Firm

The total broker-posted rate across the spot market barely changed. It ticked up three-tenths of a cent after falling during the first two weeks of the year.

Although the gain was small, it beat normal seasonal trends. Rates almost always fall during comparable weeks. Total rates were about 7% higher than in Week 3 of 2025. However, they were still more than 3% below the five-year average.

Looking ahead, the closest comparison may be the major storm in Week 3 of 2024. That event pushed dry van rates up more than 6 cents and reefer rates up more than 12 cents during a week that usually sees declines.

A similar storm in February 2021 caused much larger increases. However, that surge happened during tight capacity and strong consumer demand. Those conditions do not exist right now.

Dry Van Rates

Dry van rates fell just under 5 cents after dropping about 10 cents the prior week. While rates sometimes hold firmer in late January, the latest drop was smaller than usual for Week 3.

Even so, dry van rates stayed about 3% higher than the same week in 2025. However, they remained roughly 7% below the five-year average.

Dry van loads declined 8.8%. Volume came in more than 4% above last year’s level. Still, it stayed 34% below the five-year average. As a result, the dry van spot market remained soft but showed better year-over-year strength.

Refrigerated Rates

Refrigerated rates fell more than 3 cents after plunging about 33 cents the week before. While that drop sounds steep, reefer rates usually fall by double digits during Week 3.

Reefer rates stayed more than 7% higher than the same week in 2025. However, they were about 3% below the five-year average. Loads increased 3.1%. Even so, volume ran more than 10% below last year and close to 40% under the five-year average.

Extreme cold this week could support higher reefer rates. Shippers may also turn to insulated vans to protect dry van freight that could freeze. That shift could tighten the spot market for temperature-controlled equipment.

Flatbed Spot Market Rates Reach New High

Flatbed rates rose just under 1 cent after gaining about 3 cents the prior week. This marked the ninth increase in the past 10 weeks. Rates were more than 7% higher than the same week in 2025. However, they stayed just under 3% below the five-year average.

Flatbed loads slipped 1.7%. Still, volume surged about 78% above last year’s level. It also came in roughly 14% above the five-year average.

Flatbed strength continues to stand out in the current spot market, even as van and reefer segments remain seasonally soft.

Spot Market Outlook: Winter Storm Could Shift Rates

Under normal conditions, van rates would keep easing after the holidays. However, the winter storm could change that trend fast.

Severe weather often tightens capacity. It also slows transit times and raises demand for emergency freight. Because of that, the spot market may see sharp gains during the current week.

Dry van and refrigerated rates appear most likely to jump first. Flatbed rates may continue their steady climb as well.

What This Spot Market Means for Truck Drivers

The spot market remains uneven across equipment types. Van and reefer rates dipped again. However, weather risks could reverse that move quickly.

Flatbed drivers continue to benefit from stronger demand and rising rates. Meanwhile, van and reefer drivers may see better pricing if storm impacts linger.

Overall, the next few days could prove critical for near-term rate direction in the spot market.