Van rates slipped below December levels after an unexpected surge in the first half of January. The national average rate dropped another penny to $1.93 per mile for vans last week, which is one cent below the December average but higher than any other month since December 2018.
Reefer rates rose everywhere in the first week of January, with the biggest increases on lanes that are associated with importing fresh produce. Volumes declined compared to the holiday rush, but the change was not dramatic.
The national average van rate hit $1.98 for dry vans last week. That's 4¢ per mile above the December average and higher than any monthly rate since 2018. Freight volume rose on half of the top 100 van lanes, compared to the previous week. Volumes were much lower than in the run-up to Christmas, however.
Spot market rates rose sharply last week, as urgency mounted to deliver holiday gifts before Christmas and to re-stock retail outlets for returns, exchanges, and gift card redemptions.
Thanksgiving week was short but intense. Rates rose sharply on loads that were picked up, to entice drivers who may have had to spend Thanksgiving on the road.
Refrigerated freight volumes hit a new weekly record, surpassing even 2017's record-setting volumes, and rates have climbed more than 6% from the prior month.
