DAT: After a robust May, truckload volumes slipped in June

• TL volumes down m/o/m; van and flatbed volumes down y/o/y
• Contract rates continue falling toward pre-pandemic levels
  
• Seasonal demand (retail, produce) helped push spot rates higher
  

Spot truckload rates rose in June despite declines in the number of loads moved, said DAT Freight & Analytics, which operates the DAT One freight marketplace and DAT iQ data analytics service.

The DAT Truckload Volume Index (TVI), an indicator of loads moved during a given month, retreated from all-time highs for van and refrigerated (“reefer”) loads in May:

• Van TVI: 266, down 9% month over month
• Reefer TVI: 199, down 11%
• Flatbed TVI: 279, down 7%
  

Year over year, the van and flatbed TVI dipped 3% and 5%, respectively. The reefer TVI was up 7% compared to June 2023.

“The month ended strong for dry van freight, with nearly 25% more volume moving during the final week of June compared to last year,” said Ken Adamo, DAT Chief of Analytics. “While demand for trucking services entered July on a high note, we expect freight activity to ease during the summer. This remains a challenging market for freight carriers and brokers.”

Spot rates rose for all three equipment types

National average spot truckload rates increased for the third consecutive month in June

• Spot van: $2.07 per mile, up 6 cents
  
• Spot reefer: $2.45 a mile, up 4 cents
• Spot flatbed: $2.53 a mile, up 1 cent
  

The average van linehaul rate was $1.64 a mile, up 6 cents compared to May; the reefer rate gained 5 cents to $1.99; and the flatbed rate increased 1 cent to $2.02. Linehaul rates subtract an amount equal to an average fuel surcharge.

National average rates for contracted van and reefer freight ticked higher:

• Contract van rate: $2.44 per mile, up 1 cent
• Contract reefer rate: $2.81 a mile, up 2 cents
• Contract flatbed rate: $3.14 a mile, down 2 cents
  

Van and reefer load-to-truck ratios increased

National average van and reefer load-to-truck ratios increased for the fourth straight month in June, reflecting a combination of higher demand and fewer trucks in the marketplace:

• Van ratio: 4.7, up from 4.4 in May, meaning there were 4.7 loads for every van truck on the DAT One marketplace
• Reefer ratio: 7.0, up from 6.3
  
• Flatbed ratio: 14.6, down from 18.0
  

Ratios were higher year over year. In June 2023, the average van ratio was 3.5, the reefer ratio was 5.5, and the flatbed ratio was 13.3. Load-to-truck ratios reflect truckload supply and demand on the DAT One marketplace and indicate the pricing environment for spot truckload freight.