Average van spot rates continued to rise during the second week of June, finishing the period at $2.07 per mile, just a few cents off the record high of $2.10 per mile seen in March, according to DAT Trendlines.
That March result occurred due to record bad weather, but this time, demand is driving the price increase.
“If rates come any closer to that number in June, we can’t blame the weather. It’s the market,” DAT's Mark Montague recently wrote on a DAT Solutions blog. “Manufacturing is up. Construction is up. Produce season is well underway, and pressure is building in most agricultural markets, with the possible exception of drought-stricken Central California.”
During the week, van load availability was down 0.7 percent from the previous week, and capacity rose by 14 percent, DAT said.
For the week of June 8-June 14, the average flatbed rate fell by 2 percent over the previous week to $2.42 per mile, and the average reefer rate rose by 1.3 percent to $2.41 per mile. Total capacity in the spot market increased by 12 percent, when compared to the previous week.