Spot Market Rates Fall Despite Higher Load Activity

Spot market rates declined for dry van, refrigerated and flatbed equipment during the week ending October 30, even as load activity recorded its largest increase in six weeks. According to the November 2 Truckstop/FTR report, it was the first time since mid-August that broker-posted rates fell for all three principal equipment types in the same week.

The total market rate decreased 1.3 cents to $3.23 per mile. Meanwhile, load activity increased 8.5%, truck postings were essentially unchanged, and the Market Demand Index reached its highest level in four weeks. The results show that more posted freight did not translate into higher national average rates during the latest reporting period.

Spot Market Rates Follow Seasonal Patterns

The rate declines largely followed seasonal expectations. Softer dry van and refrigerated rates are common during comparable weeks. Flatbed rates typically increase, although those gains are often small. The total broker-posted rate fell for another week after declining more than 2 cents during the previous reporting period. Despite the recent decreases, the national average remained 41.5% above the same week in 2025.

That year-over-year increase does not mean carriers retained an equivalent improvement after fuel costs. Excluding a calculated fuel surcharge, total rates were up less than 34% from a year earlier. That comparison was about seven percentage points below the increase in all-in rates. The calculation used diesel prices through the week ending October 26.

The fuel adjustment helps separate the portion of a rate associated with fuel recovery from the remaining transportation payment. It is not a measure of carrier profit or a guarantee that a separate surcharge was paid.

Load Activity Posts Its Largest Gain in Six Weeks

Total load activity increased 8.5% from the previous week and was almost 15% above the comparable 2025 week. Truck postings were essentially flat. With more loads posted against a similar number of trucks, the Market Demand Index increased to its highest level in four weeks.

The index measures the ratio of loads to trucks in the Truckstop system. Its increase indicates that the posted load-to-truck balance tightened during the week, even though average rates declined.

The figures describe activity within the reporting system. They should not be interpreted as a count of all freight shipments or available trucks nationwide.

Dry Van Spot Market Rates Slip to $2.85

Dry van rates decreased 2.5 cents to $2.85 per mile after increasing 2 cents during the previous week. Rates remained close to 48% above the same week in 2025. Regional results varied considerably. Rates rose sharply for loads originating on the West Coast and increased modestly in the South Central region. They declined in every other region.

West Coast dry van rates have increased in most weeks since around Labor Day, with particularly strong gains over the past three weeks. In the latest report, those rates were nearly 65% above the comparable 2025 week, their strongest year-over-year comparison of 2026.

Dry van load activity increased 6.3% after a small decline during the previous week. Volume was about 28% above the same week last year. Load postings increased in every region except the Northeast and Midwest. For carriers, the regional differences show why the national average alone does not describe conditions on every lane.

Refrigerated Rates Decline for a Third Week

Refrigerated rates fell 3.5 cents to $3.45 per mile. That followed combined decreases of 7 cents over the previous two weeks. Truckstop/FTR characterized the recent softness as consistent with seasonal expectations. Refrigerated rates nevertheless remained more than 41% above the comparable 2025 week.

Rates increased for loads originating in the West Coast, South Central and Mountain Central regions. They declined elsewhere, with the Midwest recording a particularly sharp decrease.

Refrigerated load activity increased 4.2% after falling more than 5% during the previous week. Volume was more than 5% above the year-earlier level. Load postings rose sharply on the West Coast and in the Southeast. Other regions also recorded increases, except for the Northeast and Midwest.

Flatbed Loads Rebound While Rates Ease

Flatbed rates decreased 1.6 cents to $3.31 per mile, roughly matching the previous week’s decline. Rates were 42% above the same week in 2025, unchanged from the prior report’s year-over-year comparison.

The West Coast and Southeast recorded higher flatbed rates. Rates declined in the remaining regions. Flatbed load activity increased 11.2%, ending four consecutive weekly declines. Volume was about 8% above the same week last year, producing the strongest year-over-year comparison in eight weeks.

Load postings increased in every region, although the Northeast’s gain was much smaller than the increases elsewhere.

What the Latest Results Mean for Trucking

The latest spot market results present a mixed picture. Load activity improved across all three equipment categories, but national average rates continued to soften. West Coast strength stood out, particularly for dry van equipment. However, the national results do not establish a broad rate recovery.

Seasonality remains important for the next comparison. Truckstop/FTR said dry van and refrigerated rates typically increase during the week following this reporting period, while flatbed rates usually decline.

Whether those patterns emerge will help show if the latest load gains can support higher rates. Fuel costs remain another important factor when evaluating how much of an all-in payment is available to cover other operating expenses.