Spot Market Deep-Dive

Total load activity plunged 45%, which is a normal drop for a week that includes Thanksgiving. Load postings were 51% below the same 2023 week, but the timing of Thanksgiving skews the y/y comparison. Comparing the weeks that included Thanksgiving, volume was up 4.4% y/y. Total truck postings fell 13.7% during the holiday week, and the Market Demand Index – the ratio of load postings to truck postings in the system – fell to its lowest level since Thanksgiving week last year.

The total broker-posted spot rate declined just over 1 cent after rising for the first time in five weeks during the previous week. Rates were nearly 1% below the same 2023 week but were 0.1% above last year’s Thanksgiving week (week 47). In recent years, the week after Thanksgiving (normally week 48 but week 49 this year) usually produces increases in dry van and refrigerated spot rates. Flatbed spot rates changes have been inconsistent.