Spot Market Results: Dry Vans See Big Gains in Week 20

Spot Market Sees Dry Van Rate Surge After Roadcheck

According to FTR, the week ending May 23, 2025 (Week 20), the spot market showed a sharp rise in dry van rates. This marks the largest two-week increase in more than two years. The spike followed the annual International Roadcheck, which typically causes disruptions in normal freight movement.

Dry van spot rates climbed over 7 cents, hitting their highest levels since January. This increase is higher than the usual post-Roadcheck trend and continues a five-year pattern of rate hikes during this period. Compared to the same week in 2024, rates were up 1.5%. When fuel surcharges are excluded, rates were nearly 5% higher than last year.

Reefer and Flatbed Rates Dip Slightly

While dry vans saw a boost, other segments of the spot market moved in the opposite direction. Refrigerated (reefer) rates dropped by 1 cent, following a large 28-cent increase during Roadcheck week. This minor dip matches typical post-Roadcheck corrections. Compared to the same week last year, reefer rates were less than 1% higher. Without fuel surcharges, the year-over-year gain was closer to 1%.

Reefer load volumes also fell by 19.3% after Roadcheck. That put them nearly 4% below the same post-Roadcheck week in 2024.

Flatbed spot market rates dropped slightly as well—just 0.4 cents. This marked the first time flatbed rates declined in the week following Roadcheck since 2015. Still, flatbed rates remained about 2% higher than the same week in 2024, and more than 4% higher without fuel surcharges.

Flatbed load volumes fell by more than 11%. However, they were still 18% above last year’s post-Roadcheck totals.

Market Activity Normalizes After Roadcheck Spike

Total spot market load activity dropped by 12.2% in Week 20. This comes after a sharp 34% rise during Roadcheck week. Even with the drop, total volume was still 9% higher than this time last year.

Truck postings increased by 5.9%, causing the Market Demand Index—an indicator of truck-to-load ratios—to fall. At the same time, the overall broker-posted spot market rate went up by 1.4 cents. This is in line with the average post-Roadcheck rate changes seen over the past three years.

Compared to Week 20 in 2024, overall spot market rates were more than 2% higher. When fuel costs are removed, rates were up more than 6%.

Spot Market Reacts to Roadcheck Trends

The spot market showed expected shifts following the annual Roadcheck event. Dry van rates saw a strong post-event bounce. Refrigerated and flatbed segments had mild rate declines. Load volumes also adjusted, reflecting the temporary spike in activity during inspections.

These changes highlight how closely tied the spot market is to major industry events. Rate patterns and volume shifts continue to follow predictable seasonal trends, even as year-over-year comparisons show modest improvements.