Latest Spot Market Results: Rates Rise, Volumes Fall

Spot Market Rates Hold Near Record Highs Despite Holiday Slowdown

The Spot Market showed mixed signals during the week ending May 29 (Week 21), as freight activity slowed due to the Memorial Day holiday, while rates continued to push near record levels. Broker-posted rates across all equipment types remained historically strong, with dry van prices approaching all-time highs and flatbed rates setting new records again.

Although load volumes declined as expected during the holiday week, year-over-year comparisons remained strong. Data indicates that demand across the trucking market is still elevated compared to 2025 levels, even as short-term seasonal patterns affected weekly totals.

Spot Market Load Volumes Drop During Holiday Week

Total Spot Market load activity fell to 208.8, marking a 15.1% week-over-week decline. This drop aligned with typical holiday trends, as freight demand often slows during major national holidays.

Truck postings also declined by 11.5%, contributing to a modest decrease in the Market Demand Index, a key indicator of the balance between available loads and trucks.

Despite the weekly dip, the broader trend remained strong. Total load volume was more than 67% higher than the same week in 2025. Flatbed freight led the increase, with load counts nearly doubling year over year. Meanwhile, all equipment types posted gains compared to last year, signaling continued strength in the U.S. freight market.

Total Spot Market Rates Continue Climbing

The total Spot Market rate reached $3.65 per mile, rising by 7.7 cents from the previous week. While this increase was slightly smaller than the prior week’s gain, it still pushed overall rates to record levels.

Compared to the same period in 2025, all-in rates were up 48.5%. Rates excluding a calculated fuel surcharge increased about 45%, reflecting strong underlying pricing even without fuel cost adjustments.

Fuel surcharges are typically used as a benchmark to estimate the impact of diesel prices, even though many carriers operating in the Spot Market do not receive them directly.

Dry Van Spot Rates Near Historic Peak

Dry van rates continued their upward trend, reaching $3.06 per mile. This placed them less than three cents below their all-time high recorded at the end of 2021.

The weekly increase of just over 9 cents followed a sharp four-week surge of nearly 45 cents. Compared to the same week last year, dry van rates were up 53%, with non-surcharge rates rising more than 49%.

Regionally, all areas posted gains, with the strongest increases seen in the Northeast, West Coast, and Midwest.

Load volume for dry vans dropped 12.8% during the holiday week. However, activity remained more than 43% higher than in the same week of 2025. The Northeast experienced the smallest decline in load postings compared to other regions.

Refrigerated Rates Pull Back After Strong Surge

Refrigerated, or reefer, rates declined slightly after a period of rapid growth. Rates fell by just over 10 cents to $3.55 per mile, following a four-week increase of nearly 74 cents.

A significant portion of that earlier rise occurred during the International Roadcheck, when capacity tightened, and rates spiked.

Despite the weekly decline, reefer rates remained about 52% higher than the same week in 2025. Rates excluding fuel surcharges were also up close to 49%.

Regional performance varied. About half of the six major regions posted small gains, while the Southeast, Mountain Central, and South Central regions saw sharper declines.

Reefer load volume dropped 19.9% week over week. Still, volumes were about 21% higher than last year, marking the strongest annual comparison in over two months.

Flatbed Rates Hit Another All-Time High

Flatbed rates continued to lead the Spot Market, climbing to $3.77 per mile after a weekly increase of more than 9 cents. This marks the third consecutive week of record-setting rates.

Flatbed pricing has shown consistent strength, rising for 22 straight weeks and in 27 of the past 28 weeks. Compared to the same week in 2025, all-in rates were more than 47% higher.

Rates increased across nearly all regions, with only a slight decline reported in the Mountain Central region.

Flatbed load volumes fell 15.5% during the holiday week, but remained nearly 94% higher than the same period last year. This continues to reflect strong demand for construction and industrial freight.

Spot Market Trends Point to Strong Freight Demand

Overall, the Spot Market continues to show strong pricing power, even as seasonal factors temporarily reduce load volumes. The combination of high year-over-year demand and rising rates suggests that capacity remains tight across multiple equipment types.

Dry van rates nearing record highs and flatbed rates consistently setting new records highlight ongoing strength in key segments of the trucking market. Meanwhile, the slight pullback in reefer rates appears to be a correction after a rapid surge rather than a sign of weakening demand.

As the market moves beyond the holiday period, trends in load volumes and rate stability will be key indicators of how the summer freight season develops.