Spot Market Results Week 2: Van Rates Down, Flatbeds Up

Spot Market Update: Van Rates Fall Again as Market Cools

The spot market continued to cool during the week ended January 16, also known as week 2. Post-holiday normalization remained the main trend. Broker-posted spot rates for dry van and refrigerated equipment fell sharply. In contrast, flatbed spot rates climbed to their highest level since mid-year.

Data from the Truckstop.com system shows that van rates dropped more than they usually do in a typical week 2. They also fell more than they did during the previous week. At the same time, flatbed rates stayed strong. Van rates often keep falling in week 3. However, the weather can disrupt that pattern, as it did during week 3 of 2024.

Load Activity Holds Steady

Total load activity in the spot market stayed mostly stable. Load postings fell 3% week over week. This came after a sharp spike of nearly 97% following the holidays. Because of strong flatbed demand, total load postings were about 20% higher than in the same week of 2025. Even so, volume remained nearly 12% below the five-year average for the week.

Truck postings rose 6.8%. As a result, the Market Demand Index, which measures the ratio of loads to trucks, fell from week 2’s extreme level. Even with that drop, it was still the strongest reading since May 2022.

Spot Market Rates Decline Overall

The total broker-posted rate in the spot market fell more than 3 cents. That followed a much larger drop of more than 9 cents during the previous week. Even after those declines, total spot rates were still about 6% higher than in week 2 of 2025. However, they were more than 4% below the five-year average for the week.

On a year-over-year basis, flatbed spot rates outperformed van rates. Flatbed rates were stronger than dry van rates for the first time since mid-November. They were also stronger than refrigerated rates for the first time since late October.

Dry Van Rates Drop Sharply

Dry van spot rates fell about 10 cents during week 2. That followed a drop of nearly 7 cents the week before. This week-over-week decline has happened several times in past week 2 periods. Still, the size of the drop was larger than usual.

Dry van rates were 3.6% higher than in week 2 of 2025. However, they were nearly 7% below the five-year average for the week. Dry van load volume also declined. Loads fell 16.1% from the previous week. Volume was 5.4% lower than in the same week of 2025. It was also about 36% below the five-year average.

Refrigerated Rates See Historic Drop

Refrigerated spot rates plunged just over 33 cents during week 2. This was the largest week-2 drop going back to at least 2008. After rising 62 cents over three weeks in December, refrigerated rates have now fallen nearly 52 cents in just two weeks. Even after the sharp drop, refrigerated rates were still 3.8% higher than in week 2 of 2025. However, they were 5.5% below the five-year average for the week.

Refrigerated load volume also fell hard. Loads dropped 26.7% week over week. Volume was nearly 21% below the same week in 2025. It was also close to 47% below the five-year average.

Flatbed Rates Remain Strong

Flatbed spot rates moved in the opposite direction. Rates increased about 3 cents during week 2. Rates have now risen in eight of the past nine weeks. Over that time, they are up a total of 15 cents. They were about 7% higher than in week 2 of 2025. They were also just 3% below the five-year average.

Flatbed load volume increased as well. Loads rose 10.5% and reached their highest level since early April. Volume was close to 50% higher than in week 2 of 2025. It was also about 15% above the five-year average for the week.

Spot Market Outlook for the Coming Week

The spot market continues to normalize after the holiday surge. Van rates fell more than expected during week 2. This suggests more downward pressure may follow.

Van rates often keep falling in week 3. Still, weather disruptions could change that pattern, as seen in early 2024.

Meanwhile, flatbed demand remains a bright spot. Strong load growth and rising rates suggest better conditions for flatbed operators compared to van carriers.