Spot Rate Results for Week 8, 2025: Van Rates Down, Flatbeds Surge

Spot Rate Trends: Van Rates Decline, Flatbed Rates Surge

The spot rate trends for freight continue to show mixed signals as different types of trucking equipment experience varied rate trends. For the week ending February 28, 2025, dry van and refrigerated rates dropped after a brief rise the previous week. Meanwhile, flatbed rates increased significantly, reaching their highest level since July 2024.

Overall Load Activity Sees Growth

The total number of load postings saw a 6.5% increase compared to the previous week. This was the highest level recorded since May 2023. Compared to the same period in 2024, total load volumes were up by 22%. However, the numbers were still over 27% below the five-year average for this time of year.

On the trucking side, the number of truck postings increased slightly by 1.5%. As a result, the Market Demand Index (MDI)—which measures the ratio of load postings to truck postings—hit its strongest level in seven weeks. This improvement was primarily driven by increased activity in the flatbed segment.

Dry Van Spot Rate Drops Slightly

The dry van spot rate declined by just over 1 cent per mile. This came after a more than 3-cent increase the previous week. While this was a small drop, it was notable because it ended the short-lived upward trend. Despite this dip, dry van rates were still 1.5% higher than they were during the same week in 2024. This marks the first positive year-over-year comparison for dry van rates since early January. However, dry van rates remain about 14% lower than the five-year average for this time of year.

When fuel surcharge adjustments are excluded, dry van rates have actually increased by about 7% year-over-year. Meanwhile, load postings for dry vans grew by 2.7%, pushing total volume to nearly 7% higher than in 2024. However, this remains more than 45% below the five-year average.

Refrigerated Spot Rate Continues to Decline

Refrigerated (reefer) spot rates dropped by more than 6 cents per mile, following a 3-cent increase the week before. This decline pushed reefer rates to their lowest level since April 2023. Compared to the same week last year, rates were down by over 3% and were still 16% lower than the five-year average.

If the fuel surcharge is removed from the equation, reefer rates were nearly unchanged year-over-year, showing just a slight 0.2% decline. Meanwhile, refrigerated load postings fell by 8.1%. Despite the drop from the previous week, load volume for reefers was still 4% higher than in 2024. However, it remained about 46% lower than the five-year average.

Flatbed Market Sees a Strong Surge

Flatbed rates were a bright spot in the market, increasing by 3.6 cents per mile. This followed a nearly 2-cent rise the week before. With this latest jump, flatbed rates reached their highest level since July 2024. Even with this improvement, they were still 2% below the same period in 2024 and more than 6% below the five-year average.

However, when adjusting for fuel surcharges, flatbed rates actually showed a 1% year-over-year increase. Load postings for flatbed freight surged by 9.6%. This put the total volume more than 32% higher than in 2024, although it was still close to 18% below the five-year average.

What Current Spot Rate Trends Mean for the Trucking Industry

The fluctuations in spot market rates show just how unpredictable the trucking industry can be. The decrease in dry van and reefer rates suggests that either demand for these types of freight is softening or that available truck capacity has increased. On the other hand, the strong performance of flatbed rates and load postings indicates a rise in demand for shipments requiring flatbed services, possibly due to seasonal or industry-specific needs.

These changes highlight the importance of staying informed about market trends. Carriers, owner-operators, and shippers need to monitor rate movements closely to make strategic business decisions. Whether adjusting pricing strategies, optimizing routes, or choosing the right type of freight to haul, understanding the trends can help trucking professionals stay ahead in a competitive market.