Spot rates slid in July, ending short upward streak

Per-mile rates on the spot market tumbled in July in all three major truckload segments, according to monthly rate data from Truckstop.com, ending a sunny quarter of positive momentum for rates on the spot market.

Spot market rates have fallen hard in the last 24 months, following record-setting numbers in mid-2014. Per-mile rates this year, despite small gains recently, have remained well below 2014 and 2015 averages.

In July, reefer rates suffered the most, falling 8 cents from June. Paid rates in the segment (verified rates paid by brokers to carriers) averaged $2.11 in the month. July 2016’s per-mile average was 22 cents lower than the same month last year:

Flatbed rates dropped 4 cents in July to $2.12 a mile, according to Truckstop.com. Compared to the same month in 2015, flatbed rates were down 18 cents:

Lastly, van rates fell 2 cents in July to $1.95 a mile from June. They were down 21 cents from July 2015: