The average daily spot market rates in 2017 was $0.034 per mile from Labor Day to Thanksgiving, and in 2018 the value climbed to $0.064 per mile, an 86% increase in the average daily rate change.
DAT’s RateView provides real-time reports on prevailing spot market and contract rates, as well as historical rate and capacity trends.
The higher daily movement in rate per mile indicates some uncertainty shippers, brokers and carriers are having in judging the market.
The van load-to-truck ratio did jump 13% following the Thanksgiving holiday. The load-to-truck ratio, published by DAT, is a sensitive, real-time indicator of the balance between spot market demand and capacity. Changes in the ratio often signal impending changes in rates.
Freight rate is determined by the main costs incurred by a shipper to transport goods, taking factors such as driver wages, maintenance, equipment and insurance into consideration.