If the annual freight market were a dynamic economic barometer, February's index fluctuations would signal the gathering momentum of spring activity. The latest Truckload Volume Index (TVI) report from DAT, a North American freight exchange, reveals seasonal declines across most shipping categories—with one notable exception that adds complexity to market forecasts.
February saw an overall decrease in freight volume compared to January. The Van TVI registered at 207, marking an 8% month-over-month decline and a 5% year-over-year decrease, indicating weakening demand for general cargo transportation. Similarly, the Reefer TVI stood at 162, down 7.9% from January and 4.7% from February 2023, reflecting reduced demand for temperature-sensitive goods like perishable foods.
Analysts note that February typically experiences lower freight volumes due to its shorter duration, making these fluctuations part of predictable seasonal patterns rather than concerning market shifts.
Contrasting the broader downturn, flatbed transportation demonstrated remarkable resilience. The Flatbed TVI reached 217 in February—virtually unchanged from January's 218 but representing a substantial 7.9% increase compared to the same period last year. This sustained demand for specialized hauling suggests robust activity in construction materials, steel shipments, and industrial goods transportation.
The flatbed sector's performance may signal early-stage infrastructure project mobilization and manufacturing sector recovery, providing crucial support to the overall freight market during its seasonal lull.
While February's DAT indices primarily reflect expected seasonal adjustments, the flatbed segment's countercyclical strength introduces meaningful variables to spring market projections. The divergence between equipment types underscores how sector-specific demand can influence broader transportation economics.
Industry observers will monitor whether flatbed's momentum can catalyze broader market recovery as seasonal factors diminish, or if this represents isolated strength within construction and heavy industry verticals.