As we’ve noted in a recent weekly spot market update, the typical July slump in rates wasn’t as bad as it has been in recent years. And though a report from earlier in the week based on data from Truckstop.com showed a lower July average for rates in all three major trailer types versus June, DAT Load Boards’ network showed the opposite for vans, a slight gain in the month of July.
It’s one of a couple “good signs that we’re watching to see if they hold up,” says DAT’s Ken Harper. Also: July ended on a high note for load availability/volume, and it was looking good as we entered August this week.
“This is very atypical for late summer,” Harper adds. “Like everybody else, we’ve read that the large fleets are reducing capacity and cherry-picking lanes in response to the rate pressure from shippers. That may be putting more freight on the spot market.”
We’ll see if the trend holds through this week.
One factor is trending the “wrong” way, Harper adds, however: diesel prices are dropping, by a few cents a week. That’s good for the time being, as fuel surcharges hold, but eventually they’ll follow prices down.