Spot Market: Dry Van Rates Hit Record High

Spot Market: Dry Van Rates Hit New Record Before July 4

The Spot Market delivered mixed results during the week ending July 3 (Week 26) as the holiday period reduced freight volume but pushed van rates sharply higher.

According to the latest data from Truckstop, dry van broker-posted spot rates reached a new all-time high, while refrigerated rates recorded one of their strongest weeks on record. Flatbed rates eased slightly but remained near historic highs.

Spot Market Load Volume Drops During Holiday Week

Overall Spot Market load activity declined as expected during the shortened holiday week.

• Total load activity: 142
• Week-over-week change: -26.9%
• Year-over-year change: +36%

The decline was largely driven by the federal holiday on July 3, which reduced shipping activity across the country.

Truck postings fell 1.3%, and the Market Demand Index (MDI)—which measures the ratio of available loads to available trucks—dropped to its lowest level since the third week of 2026.

Spot Market Rates Continue to Strengthen

Despite lower freight volumes, the overall Spot Market continued to post stronger pricing.

The average broker-posted spot rate increased to $3.65 per mile, up 0.7 cents from the previous week. When excluding a calculated fuel surcharge, rates increased by 4.5 cents per mile.

Compared to the same week in 2025:

• All-in rates were nearly 47% higher
• Fuel-adjusted rates were almost 52% higher

Dry Van Spot Rates Reach a Record High

Dry van posted the biggest milestone of the week, setting a new all-time record.

• Average rate: $3.10 per mile
• Week-over-week increase: 11.3 cents
• Year-over-year increase: More than 42%

Although the all-in rate reached a record, fuel-adjusted dry van rates remained about 11 cents below the record established at the end of 2021.

Dry van rates increased across every region of the country, with the strongest gains coming from loads originating in the Northeast and Midwest.

Load volume, however, fell 19.8% during the holiday week, although it remained 40.5% higher than the same week in 2025.

Refrigerated Rates See One of Their Best Weeks Ever

The refrigerated segment also posted a strong performance.

• Average rate: $3.71 per mile
• Week-over-week increase: 24.7 cents

This marked the largest Week 26 increase ever recorded for refrigerated spot rates and pushed rates to the fourth-highest level on record.

Compared with the same week last year:

• All-in rates increased more than 39%
• Fuel-adjusted rates increased more than 42%

Rate gains were strongest for freight originating in the Midwest and Southeast.

Refrigerated load postings declined 8.6%, outperforming both dry van and flatbed during the holiday week. Compared with last year, reefer volume was down just 0.8%.

Flatbed Rates Ease but Stay Near Record Levels

Flatbed rates softened for the third consecutive week but remained historically strong.

• Average rate: $3.82 per mile
• Week-over-week change: Down just over 1 cent

When fuel costs are excluded, flatbed rates actually increased 2.6 cents per mile.

Compared with the same week in 2025:

• All-in rates were 51% higher
• Fuel-adjusted rates were nearly 57% higher

Most regions experienced stable or slightly higher rates, with the Southwest being the only major region to record a decline.

Flatbed load volume dropped 33.3% during the holiday week but remained nearly 47% above last year’s level.

Holiday Pattern Drives Weekly Results

The latest Spot Market report reflects a pattern that is common leading into the Independence Day holiday. Freight volumes typically decline during the shortened workweek, while capacity tightens enough to support stronger broker-posted rates for dry van and refrigerated freight.

With the holiday now over, upcoming reports will show whether these record dry van rates can be sustained or if pricing returns to more typical seasonal levels as freight activity resumes.