Spot market freight soars in most recent week, driving rates slightly higher

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The Market Demand Index for the week ending June 13The Market Demand Index for the week ending June 13

Load availability shot up 34 percent on the spot market in the week ending June 13, according to weekly spot market data provided by Truckstop.com. The jump in freight volume, coupled with a Roadcheck-caused decline in truck availability, drove Truckstop.com’s weekly Market Demand Index to its highest reading of the year, signaling a strong swing in spot market favor ability toward owner-operators.

Rates also followed suit, jumping 1.5 percent from the week prior across the board, according to Truckstop.com data.

Though load availability and rates were down from the same week in 2015, the overall MDI — a cross measurement of load availability and truck availability — was up 5 percent from the same week last year. This is the first time in 2016 that the MDI has seen such a year over year gain.

The top 5 states on Truckstop.com’s Load Availability Index were:

  1. Utah
  2. California
  3. Iowa
  4. Alabama
  5. Indiana

Click here to sign up to receive and view the Trans4Cast report. Overdrive, in partnership with Truckstop.com, offers regularo snapshots of the overall MDI or a trend within a segment worth highlighting from the previous week.

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