The American truck freight market has witnessed a significant rebound following the Thanksgiving holiday, according to the latest data from DAT Freight & Analytics. The report reveals substantial growth in spot market freight volumes between December 1-6, providing crucial insights for market participants.
Data Shock: Market Explosion After Holiday
The DAT One network recorded an impressive 2.18 million available loads during the measured period, marking a 114% week-over-week increase—the highest volume since the week before July 4th holiday. While comparing full-week data to the abbreviated holiday week may exaggerate percentage differences, the figures clearly demonstrate robust market recovery.
Available truck capacity reached 266,747 units, growing by 19%. DAT analysts note that constrained capacity relative to demand pushed up load-to-truck ratios across all three major equipment types: dry vans, reefers, and flatbeds.
Key Market Metrics (Dec 1-6)
- Total loads: 2.18 million (+114%)
- Available trucks: 266,747 (+19%)
- Dry van spot rate: $1.72/mile (+$0.01)
- Reefer spot rate: $2.05/mile (unchanged)
- Flatbed spot rate: $1.97/mile (-$0.01)
Segment Breakdown: Three Equipment Types
DAT's detailed analysis reveals distinct patterns across equipment categories:
Dry Vans: Load volumes surged 108% to 1.14 million, with equipment count growing 20.7%. The load-to-truck ratio nearly doubled from 3.8 to 6.5, while spot rates gained one cent to $1.72/mile.
Reefers: Refrigerated freight jumped 117.5% to 483,159 loads. The segment saw more modest truck growth (11.3%), pushing the load-to-truck ratio to 8.7. Rates held steady at $2.05/mile.
Flatbeds: The most dramatic growth occurred in flatbed freight (123.1% to 561,113 loads), though truck availability also expanded significantly (25.2%). Despite the demand surge, rates dipped slightly to $1.97/mile.
Expert Analysis: Rates, Lanes and Market Dynamics
DAT iQ analyst Dean Croke notes the national average dry van rate now stands $0.07 higher than last year, though $0.08 below 2022 levels. The top 50 dry van lanes averaged $2.06/mile—$0.34 above the national benchmark.
Reefer rates show stronger year-over-year performance (+$0.11), with particular strength in cross-border produce shipments. The McAllen, Texas market saw 34% more reefer loads year-over-year, with outbound rates holding at approximately $2.60/mile to Dallas-Fort Worth.
Market Recovery Signals and Challenges
DAT Chief Analyst Ken Adamo observes that capacity tightness appears to be driving rate momentum, though distinguishing seasonal from macroeconomic factors remains challenging. "We've likely been in balance since late July," Adamo notes, defining equilibrium as temporary disruptions that quickly correct.
Adamo cautions that January typically brings market softening, though the current momentum appears more sustainable than past holiday rebounds. "In 2021, rates fell off a cliff after the holidays before rebounding. I don't expect that severity, but seasonal patterns will undoubtedly influence dynamics."
Drivers of the Market Rebound
Multiple factors contributed to the post-Thanksgiving surge:
- Seasonal demand: Retail restocking for holiday shopping drove immediate freight needs
- Supply chain improvements: Resolving bottlenecks increased shipping efficiency
- Capacity adjustments: Carrier attrition helped balance supply and demand
- Fuel price impacts: Diesel cost fluctuations influenced operating expenses
- Economic conditions: Broader macroeconomic trends supported freight demand
Outlook: Cautious Optimism
While the rebound signals market health, analysts advise measured expectations. The traditional January slowdown may test the recovery's durability. Industry participants should focus on data-driven decision making, operational efficiency, and strategic partnerships to navigate potential volatility.