Truckstop.com and FTR Transportation Intelligence released week 21's Spot Market Overview, which showed dips in three of the four key market indicators.

The overall Market Demand Index (MDI) fell 8.4 points to 200.7 as load availability decreased 15.1% and truck availability declined 11.5%. Compared to last year the MDI is up 120.5 points, or 150.1%. Last week, market rates rose 2.2% to $3.65. Compared to last year, rates are up 48.7%. National fuel prices eased $0.08 cents to $5.51 from $5.59 per gallon in the previous week.

Dry van spot rates near all-time high

Broker-posted spot rates in the Truckstop.com system for flatbed equipment have set records for three straight weeks and now dry van spot rates during the week ended May 29 (week 21) have come within 3 cents of their all-time high at the end of 2021. Flatbed spot rates posted their strongest week-over-week increase in eight weeks, but refrigerated spot rates retreated modestly immediately after recording their largest four-week gain ever. Spot volume fell as expected due to the Memorial Day holiday.

Van

For the Dry Van market, 3 of the 4 key market indicators decreased in the latest week. The Van MDI decreased 15.5 points to 280.0 as load availability fell 12.9% and truck availability fell 8.0%. Compared to last year the MDI is up 185.3 points, or 195.6%. Last week, Van rates increased 3.1% to $3.06. Compared to last year, rates are up 52.4%.

Reefer

For the Refrigerated market, 3 of the 4 key market indicators decreased in the latest week. The Refrigerated MDI increased 14.7 points to 274.8 as load availability decreased 19.9% and truck availability decreased 24.2%. Compared to last year the MDI is up 139.2 points, or 102.7%. Last week, Refrigerated rates fell 2.8% to $3.55. Compared to last year, rates are up 43.8%.

Flat

For the Flatbed market, 3 of the 4 key market indicators decreased in the latest week. The Flatbed MDI decreased 9.8 points to 323.5 as load availability fell 15.5% and truck availability decreased 12.9%. Compared to last year the MDI is up 205.9 points, or 175.2%. Last week, Flatbed rates increased 2.5% to $3.77. Compared to last year, rates are up 49.1%.

Specialized

For the Specialized market, 3 of the 4 key market indicators decreased in the latest week. The Specialized MDI decreased 1.7 points to 36.3 as load availability fell by 13.7% and truck availability decreased 9.6%. Compared to last year the MDI is up 14.3 points, or 65.3%. Last week, Specialized rates rose 2.4% to $3.69. Compared to last year, rates are up 40.7%.