Truck rates and volumes are showing mixed trends, according to the transportation platform DAT.
The total number of loads posted to the DAT One network rose almost 5% during the week of April 24-30, signaling a late-month push by shippers and relatively strong truckload volumes overall, according to a news release. This is the second straight week of increases in the load-posting activity to the DAT network, according to the release.
Load boards such as DAT One are online marketplaces for truck operators, shippers and brokers to post and find loads.
DAT reported refrigerated truckload rates averaged $2.39 a mile the week of April 24, down 5 cents from the previous week.
Rates are based on transaction data submitted by shippers, freight brokers, and motor carriers and exclude a fuel surcharge. Last week, fuel surcharge calculations in DAT’s RateView pricing analysis tool were 71 cents per mile for reefers, according to the release.
The national average spot reefer rate is 20 cents per mile lower compared with the same week in 2021. The number of reefer loads jumped 6.5% and equipment posts were down 2.6%. The reefer load-to-truck ratio was 6.5, up from 6.0 the previous week, according to the release.
The USDA reported the average truck rate for truckload shipments of produce from California’s Kern District to Chicago on April 25 was $6,800 to $7,200, slightly lower than the $7,0000 to $7,500 rate a year ago for the same route. That rate includes the cost of fuel.
Potential effects of high fuel prices on small carriers, according to DAT, include:
- Contraction of small-carrier capacity as owner-operators park equipment and look for other work or take time off;
- Carriers running slower speeds and therefore covering fewer miles during a driving period;
- Carriers focusing on reducing deadhead miles; and
- An increase in invoice factoring activity to improve cash flow and cover other costs.
Diesel fuel increased 74.5 cents per gallon from the weeks ending Feb. 28 to March 7, and another 40 cents to $5.25 for the week ending March 14, according to the release.
U.S. average diesel prices in the first week of May averaged $5.50 per gallon, up 7% from $5.14 in April and more than 75 higher than $3.14 per gallon a year ago, according to the U.S. Energy Information Association.
