Spot freight rates up slightly in February
Nationwide van rates for truck freight moved on the spot market remained stable in February, according to TransCore Trendlines’ monthly rollup.
Flatbed rates increased 1.9 percent nationwide and reefer rates moved up 1.6 percent compared to January.
TransCore says the rise in flatbed rates was led by a surge in the Los Angeles market, which rebounded during the second half of February with a 7.4 percent increase in outbound rates compared to the previous month. Likewise, reefer rates accelerated during the final week of the month, led by a 4.3 percent increase in outbound rates from Atlanta.
TransCore says that while national van rates were stable, the impact of severe winter weather on crops in the southwest U.S. appears to have depressed rates, particularly in northern California, Denver and Los Angeles. In the eastern U.S., van rates were up in February, particularly into and out of Philadelphia, Chicago, Atlanta and Columbus, Ohio.