Van rates in Memphis rose 2.7% as load volume also increased week-over-week. This market increase moved opposite the national trend in the seven days ending August 10 and is a welcomed shift for current van activity. The increase in rates and load volume in Memphis might signify the beginning of the consumer-heavy back-to-school freight activity. If national trends mimicked activity seen in Memphis, rates would begin to show some much needed stability after declining week over week from June’s high throughout the month of July. Depending on the demand often seen during August-September, we will either see rates increase or stabilize but they aren’t likely to decline much more. Increasing lanes include Memphis to Columbus, and from Colorado, up 2.4%, to Sacramento and Dallas.
National van rates are down 1.5% led by Los Angeles, where they are down 1%. Despite the uptick in load activity, rates for this segment have not recorded a week-over-week increase since June. Atlanta, Dallas and Philadelphia were other major markets that recorded a decline in rates not far behind Los Angeles. Stock market activity may not be as reflected in this set of data as it might be next week. We’ll keep a close eye and be sure to report on any findings we see.
Flatbed rates continue to move with little few trends to follow. Rates for this segment are only down 0.5% week over week while freight volume declines. Rates for this segment won’t be able to hold at June’s high for long and will begin to decline eventually.
What are your thoughts? Are you seeing similar activity in the market? Feel free to comment below, I’m curious to hear what you
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