DAT: Truckload volumes, rates slipped in April amid freight-market uncertainty
BEAVERTON, Ore.--(BUSINESS WIRE)--Spot truckload freight volumes declined in April, a sign that tariff-related stockpiling, a slowdown in manufacturing, and general seasonality contributed to reduced demand for trucking services, said DAT Freight & Analytics, which operates the DAT One freight marketplace and DAT iQ data analytics service.
The DAT Truckload Volume Index (TVI) declined slightly for van and reefer freight:
Year-over-year comparisons were positive, with the Van TVI up 1%, Reefer TVI up 4%, and Flatbed TVI up 5% compared to April 2024.
'The market feels frozen,' said Ken Adamo, Chief of Analytics at DAT Freight & Analytics. 'April brought the usual seasonal opportunities in produce and construction materials. But broader economic factors—including uncertainty over tariffs and the pull-forward of inventory this year—put a damper on growth in overall freight volumes, especially compared to previous years.'
There was little movement in national average spot van and reefer truckload rates, which is typical between March and April. The flatbed rate increased for the fifth straight month.
Van: $1.96 per mile, down 3 cents from March
Reefer: $2.27 per mile, unchanged
Flatbed: $2.57 per mile, up 4 cents
The van linehaul rate averaged $1.57 per mile, down 3 cents month over month; the reefer rate was unchanged at $1.85; and the flatbed rate was $2.11, up 5 cents. Linehaul rates exclude an average fuel surcharge amount, which was 39 cents, 42 cents, and 46 cents for vans, reefers, and flatbeds, respectively.
Contract truckload rates edged higher compared to March but lagged behind April 2024 averages:
Contract Van: $2.40 per mile, unchanged month over month and 6 cents lower year over year
Contract Reefer: $2.74 per mile, up 2 cents and 8 cents lower year over year
Contract Flatbed: $3.08 per mile, up 4 cents and 5 cents lower year over year
The spread between contract and spot rates increased for the fourth straight month, at 44 cents for vans, 47 cents for reefers, and 51 cents for flatbeds. When spot rates fall relative to contract pricing, it can signal a soft or oversupplied market where carriers have to accept lower rates to keep moving.
'Carriers were hoping April rates would be a springboard into a stronger Q2,' Adamo said. 'Instead, the optimistic case is that they've reached a pricing floor heading into the traditional summer peak shipping season in May and June. How 'traditional' the season looks has yet to be determined.'
About the DAT Truckload Volume Index
The DAT Truckload Volume Index reflects the change in the number of loads with a pickup date during that month. A baseline of 100 equals the number of loads moved in January 2015, as recorded in DAT RateView, a database tracking rates paid on an average of 3 million loads per month.
DAT benchmark spot rates are derived from invoice data for hauls of 250 miles or more with a pickup date during the month reported. Linehaul rates exclude an amount equal to an average fuel surcharge.
About DAT Freight & Analytics
DAT Freight & Analytics operates DAT One, North America's largest truckload freight marketplace; DAT iQ, the industry's leading freight data analytics service; and Trucker Tools, the leader in load visibility. Shippers, transportation brokers, carriers, news organizations, and industry analysts rely on DAT for market trends and data insights, informed by nearly 700,000 daily load posts and a database exceeding $1 trillion in freight market transactions.
Founded in 1978, DAT is a business unit of Roper Technologies (Nasdaq: ROP), a constituent of the Nasdaq 100, S&P 500, and Fortune 1000. Headquartered in Beaverton, Ore., DAT continues to set the standard for innovation in the trucking and logistics industry. Visit dat.com for more information.
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