Latest Spot Market Results: Van Rates Shows Mid-Year Recovery

Spot Market Trends for Week 32

The U.S. spot market showed mixed but notable shifts during the week ending August 15, 2025 (week 32). According to data from FTR. Dry van and reefer rates posted their strongest gains in six weeks, while flatbed rates continued a slow decline. Load activity also rebounded, although levels remain well below long-term averages.

Spot Market Overview

Broker-posted spot rates for dry van and refrigerated trailers both increased, marking the most significant rise since mid-year. Refrigerated spot rates climbed for the third week in a row, a streak not seen this year. Meanwhile, dry van spot rates erased the prior week’s decline.

Flatbed spot rates, however, inched down again. This marks the sixth consecutive weekly drop, the longest stretch of decreases since last August. Even so, the decline over the past three weeks added up to just over half a cent, signaling only modest downward movement. Overall, spot market rates followed typical seasonal patterns.

Total Spot Market Activity

Total load activity rose 5.5% after falling more than 10% the week before. Compared with the same week in 2024, volumes were more than 25% higher. However, they remained about 14% below the five-year average.

Interestingly, total truck postings increased at nearly the same pace as load postings. As a result, the Market Demand Index—measuring the balance between loads and available trucks—barely changed. This rare alignment highlights stable supply and demand conditions despite week-to-week shifts.

Overall Rates

The total market broker-posted spot rate stayed unchanged after barely moving in the previous week. Rates were 1.4% higher than during the same week last year, but they remained 7.5% below the five-year average. This pattern shows how current pricing lags behind historical norms, even as short-term gains appear in certain segments.

Dry Van Spot Market Rates

Dry van spot rates rose by about two cents, offsetting last week’s small decline. Rates were 0.5% higher than during the same week in 2024 but almost 12% lower than the five-year average.

Dry van load activity grew 3.2%. Compared with last year, volume increased 10.5%. Still, the level was nearly 31% below the five-year average, showing that recovery remains incomplete even with recent gains.

Reefer Spot Market Rates

Refrigerated spot rates posted a strong increase of 3.7 cents. This followed two consecutive weeks of roughly two-cent increases. For the first time in 2025, reefer rates have now climbed for three weeks in a row.

Compared with last year, refeer rates were more than 2% higher. Yet they stood about 8% below the five-year average. Reefer load activity rose 4.4%. Volume was 10% lower than last year’s level and more than 37% under the five-year benchmark, underscoring weak demand relative to long-term trends.

Flatbed Spot Market Rates

Flatbed spot rates slipped by just a tenth of a cent. Although rates have fallen for six straight weeks, the cumulative decline in the past three weeks was just over half a cent. Compared with the same week in 2024, flatbed rates were nearly 1% higher. However, they remained 7.5% below the five-year average.

Flatbed load activity grew 5.4%. Volumes were about 50% above last year’s level but nearly 1% lower than the five-year average. This reflects stronger year-over-year demand but a market still lagging historical capacity levels.

Key Takeaways for the Trucking Market

• Dry van and reefer strength: Both segments recorded their biggest rate increases in six weeks, signaling a short-term rebound.
• Flatbed weakness: Despite higher year-over-year comparisons, rates continued a slow downward slide.
• Load recovery: Volumes climbed after a sharp decline the week before, but they remain far below long-term averages.
• Stable demand index: Load and truck postings moved together, keeping the Market Demand Index steady.

Outlook for the Spot Market

The latest data shows a spot market caught between seasonal trends and long-term weakness. Dry van and refrigerated carriers benefit from short bursts of rate growth, but overall averages remain below five-year levels. Flatbed continues to lag, though volumes appear healthier than last year.

Looking ahead, the balance between truck supply and available freight will remain critical. If load volumes sustain their rebound while truck postings stay flat, the Market Demand Index could shift upward. Until then, the spot market will likely continue to move in line with seasonal norms rather than break into a new growth cycle.