The U.S. spot trucking market showed clear signs of cooling in the week of July 21-27, with both freight rates and shipment volumes declining across all major equipment types, according to the latest data from DAT Freight & Analytics.
Shipment Volumes Continue Downward Trend
Available truckload freight posts on DAT One fell 3% week-over-week to 1.83 million loads, marking the second consecutive weekly decline. Compared to the same period last year, volume was down 7%. Meanwhile, truck posts decreased 6% to 324,253, indicating a contraction in capacity alongside weakening demand.
Rate Declines Across All Segments
The data revealed uniform rate decreases:
• Dry vans: $1.64/mile (-1¢) with load-to-truck ratio rising to 4.1
• Reefers: $1.96/mile (-4¢) as agricultural shipments hit 10-year lows
• Flatbeds: $2.00/mile (-2¢) with construction activity slowing
Market Analysis
DAT Chief Analyst Dean Croke noted the dry van load-to-truck ratio of 4.1 represents the highest level for Week 30 in eight years, second only to 2020 pandemic levels. "National average dry van spot rates have fallen 6¢ per mile over the past month," Croke observed, adding that current rates nearly match year-ago levels.
The reefer market appears particularly vulnerable, with produce shipments at decade-low levels according to USDA data. On top 50 dry van lanes, average rates fell 3¢ to $2.03/mile, while reefer rates trailed both year-ago and three-month average figures.
Seasonal Factors and Outlook
The cooling trend aligns with typical post-summer seasonal patterns, though macroeconomic uncertainties cloud the forecast. While overall volume declines suggest market softening, persistent capacity tightness on certain dry van lanes indicates structural imbalances.
Market participants should monitor key indicators closely in coming weeks, adjusting strategies to address potential volatility. Carriers may need to optimize networks and reduce empty miles, while brokers could benefit from flexible pricing approaches.