Spot Market Surge after Thanksgiving with Strong Van and Reefer Rates

Spot Market Rates Jump After Thanksgiving as Load Volumes Surge

Spot market activity jumped during the week ending December 5, marking one of the strongest rebounds of the year. Rates rose sharply across all major trailer types, and load volumes climbed after the usual Thanksgiving slowdown. While holiday weeks often create unusual rate swings, the market showed real momentum during week 48, especially in reefer freight.

Spot Market Sees Biggest Weekly Rate Gain Since Spring

Spot rates rose by the most in a single week since March. This jump pushed the total spot market rate to its highest level since early July. Reefer freight led the surge, climbing by the most since International Roadcheck in May and reaching its highest point since January 2023. Dry van and flatbed rates also moved higher, showing strength that outpaced normal seasonal trends.

Load activity rebounded as well. Total loads increased 127% after dropping 46% during Thanksgiving week. Although the year-over-year comparison shows loads up more than 160%, that number is heavily skewed because Thanksgiving fell in week 48 last year. When comparing the weeks after Thanksgiving, volumes were still up more than 26% from 2024.

Truck postings increased 9.9%, and the Market Demand Index — which measures the ratio of loads to trucks — reached its highest level since Roadcheck week. This shift shows tighter truckload capacity and stronger freight demand moving into December.

Dry Van Rates Climb to Their Highest Mid-Year Levels

Dry van spot rates rose just over 4 cents during the week after jumping 13 cents in the prior week. The segment has now logged two weeks of stronger-than-seasonal gains. Rates were about 7% higher than they were during 2024’s week 48 and nearly 5% higher than the same post-Thanksgiving week last year. It was one of the strongest year-over-year comparisons since March 2022.

Dry van loads also surged. Load volume jumped 113% from the holiday week and reached its highest point since November 2023. Because last year’s Thanksgiving fell in week 48, year-over-year volume looked unusually high at about 140%. However, even when adjusting for the timing shift, volumes still rose nearly 22% compared to the week after Thanksgiving in 2024.

Reefer Rates Hit Highest Levels Since Early 2022

Refrigerated freight posted the strongest gains of any segment. Spot rates soared more than 21 cents after falling nearly 4 cents the week before. Rates were about 15% higher than during 2024’s week 48 and nearly 12% higher than the same post-holiday week last year. Both comparisons marked the highest year-over-year strength since early 2022.

Refrigerated load volumes rebounded 90% and reached the highest level since Roadcheck week. Loads were 67% higher than last year’s week 48. Yet, after adjusting for the holiday shift, refrigerated volume ended up less than 1% higher than last year’s post-Thanksgiving week.

Flatbed Spot Market Rates Continue Steady Rise

Flatbed spot rates increased nearly 4 cents after remaining almost unchanged the week before. Although the gain was smaller than in other segments, the trend remained positive. Rates were 4.5% higher than in 2024’s week 48 and 3.6% above last year’s post-holiday week.

Flatbed loads showed the biggest rebound of any segment, jumping 154% after dropping 53% during Thanksgiving week. Load volume reached the highest level in seven weeks. Even more, year-over-year gains were strong. Loads were up more than 236% from last year’s week 48 and 41% higher than the same week after Thanksgiving in 2024.

Holiday Volatility Still Plays a Role in Spot Market Trends

Although the spot market showed strong momentum, some of the swings were tied directly to the holiday calendar. Spot rates often behave unpredictably around Thanksgiving, the Fourth of July, and other major events. For example, dry van and refrigerated rates almost always fall during week 49. This trend remains something to watch in the days ahead.

Even so, the market entered December with stronger rates, higher demand, and tighter capacity across most segments — signaling a firmer spot market than many expected for this point in the year.