Spot Market Results: Slight Rise in Week 41

Spot Market Rates Show Little Change

The spot market showed only slight movement during the week ending October 17 (Week 41). According to data from FTR, rates for all three major equipment types—dry van, reefer, and flatbed—rose slightly. However, the overall increase was minimal.

Flatbed rates barely changed, and total market rates inched higher by just a tenth of a cent. Dry van rates continued their steady climb, marking the third increase in four weeks. Reefer rates also rose, though by a smaller margin than in recent weeks. Overall, rate changes matched normal seasonal patterns.

Load Availability Declines Slightly

Load activity in the spot market eased 0.7% following a 4.6% drop in the previous week. Despite this dip, total loads remained 13% higher than the same week in 2024, marking the weakest year-over-year gain in six weeks.

Flatbed freight continues to weigh on total volume as comparisons with last year soften. Loads were still more than 13% below the five-year average, showing that freight demand has not fully recovered.

At the same time, truck postings rose 4.1%. As a result, the Market Demand Index (MDI)—the ratio of loads to available trucks—fell to its lowest level in five weeks. This shift indicates that capacity remains loose and competition among carriers is steady.

Total Spot Market Rates Remain Flat

The total broker-posted spot market rate increased by only a tenth of a cent compared to the previous week. Total rates were 1.6% higher than in the same week of 2024 but about 8% below the five-year average.

Historically, rates in mid-October tend to dip slightly for dry van and flatbed freight, while refrigerated freight often holds firm or improves as colder weather increases temperature-controlled demand.

Dry Van Rates See Modest Gains

Dry van rates rose by 2 cents after a 4-cent drop the prior week. They were 0.6% higher than during the same week last year, showing mild year-over-year improvement.

Dry van load volume stayed flat week over week. However, loads were 7% above last year’s level but nearly 34% below the five-year average. The van segment continues to move within seasonal expectations, with mild gains as holiday shipping ramps up.

Refrigerated Spot Market Strengthens

Refrigerated rates increased by just over 1 cent following a larger rise the week before. Rates were 5.4% higher than in 2024, showing the strongest year-over-year improvement among all equipment types.

Reefer load volume fell 1.2%, though it was nearly equal to last year’s level—just 0.3% lower. However, refrigerated loads remained roughly 35% below the five-year average, reflecting a long-term cooling trend in freight demand.

Flatbed Market Stays Quiet

Flatbed rates in the spot market edged up only a tenth of a cent after a slight decline the previous week. Rates were 1.6% higher year over year but remained 8% below the five-year average.

Flatbed loads dropped 1.1%, yet volume stayed 22% above last year’s level, marking the smallest year-over-year gap in 13 weeks. Compared to the five-year average, flatbed loads were 4% higher, showing some stability in construction and manufacturing freight.

Outlook for the Spot Market

The spot market continues to follow its usual fall pattern. Minor rate gains and small volume changes suggest a balanced market heading into late October. Dry van and reefer demand should remain steady, while flatbed freight could weaken as colder weather slows construction activity.

Although total spot rates are higher than last year, they remain well below the five-year average. The market shows stability but limited upward pressure as carriers and shippers prepare for the upcoming holiday freight season.