The flatbed spot rates market continues to show strong momentum, reaching its highest levels since 2022. According to recent data from FTR Transportation Intelligence and DAT Freight & Analytics, flatbed freight rates and volumes increased again last week. Meanwhile, dry van and refrigerated segments experienced modest week-over-week declines. Nevertheless, overall spot market conditions remain stronger than in recent years.
Although some equipment segments softened slightly, the flatbed segment continues to support the broader spot market. In fact, flatbed demand has steadily increased for several weeks, suggesting that certain sectors of the freight economy are gaining strength.
Overall Spot Market Trends
Across the three primary equipment segments—dry van, refrigerated, and flatbed—spot rates remain significantly stronger compared with the same period in previous years. According to FTR, overall broker-posted spot rates increased 4 cents per mile last week. Consequently, gains in the flatbed segment more than offset declines in the dry van and refrigerated markets.
Furthermore, analysts note that even though weekly decreases occurred in some segments, pricing levels remain elevated compared with historical averages. Therefore, despite short-term fluctuations, the trucking spot market continues to show resilience.
Dry Van Rates and Volumes
The dry van segment recorded another small weekly decline. However, the market still shows strength when viewed from a longer-term perspective.
According to FTR:
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Average dry van spot rates decreased 3.6 cents per mile last week
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Nevertheless, rates remain 19% higher than the same week last year
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Dry van load volumes declined 4.6% overall, although volumes increased regionally in the Southeast
Similarly, DAT reported comparable trends:
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National linehaul spot rates fell 2 cents per mile, averaging just under $2.00 per mile
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This marked the fourth consecutive weekly decline of 2 cents
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Even so, dry van rates remain 22% higher than last year
Therefore, although the segment has cooled slightly in recent weeks, dry van freight continues to perform better than it did during much of the previous year.
Refrigerated Freight Shows Similar Movement
Refrigerated freight followed a similar pattern. Weekly spot rates declined slightly; however, year-over-year comparisons remain strong.
According to FTR:
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Reefer spot rates fell 4.4 cents per mile week over week
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However, rates are still 26% higher than last year
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Refrigerated load volumes declined 2.4% overall
At the same time, certain regions experienced increased demand. Specifically, reefer load volumes rose in the West Coast, Southeast, and South Central regions.
DAT data also reflected these trends:
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National refrigerated linehaul rates declined 3 cents, averaging $2.38 per mile
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Even so, the average rate remains 25% higher than the same time last year
Thus, while week-to-week changes show some volatility, refrigerated freight demand remains relatively stable.
Flatbed Rates Continue to Lead the Market
In contrast, the flatbed segment continues to outperform the rest of the spot market. Not only did flatbed rates rise again last week, but they also reached their highest level since October 2022.
According to FTR:
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Flatbed spot rates rose slightly more than 5 cents per mile
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Year-over-year rates increased 13.4%
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Flatbed load volumes rose 5.3% last week
Additionally, this increase marks the sixth consecutive week of rising flatbed demand, with volumes now reaching their highest level since May 2022.
DAT reported similar results. National flatbed linehaul rates increased 4 cents per mile, averaging $2.33 per mile. Furthermore, this represents the fifth straight week of rate increases, and the rate now stands 15% higher than the same time last year.
Factors Supporting Flatbed Demand
Several economic factors appear to be supporting flatbed freight demand. First, stronger manufacturing production reported by the Federal Reserve has increased the need for industrial transportation. Additionally, ongoing infrastructure projects and the continued construction of large-scale data centers are contributing to higher flatbed shipping volumes.
At the same time, flatbed capacity remains relatively tight. As a result, even moderate increases in demand can push rates higher. Consequently, the flatbed segment continues to show stronger momentum compared with other trucking equipment types.
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