Spot truckload freight volumes settled lower in February, driven by a mix of seasonal slowing, winter weather, and shipper concerns about tariffs and economic volatility, said DAT Freight & Analytics, which operates the DAT One freight marketplace and DAT iQ data analytics service.

The DAT Truckload Volume Index (TVI), a measure of dry van, refrigerated (“reefer”), and flatbed loads moved in a month, decreased for van and reefer freight:

• Van TVI: 258, down 8.5% compared to January
• Reefer TVI: 212, down 11.3%
• Flatbed TVI: 263, up 0.4%

February typically has lower volumes compared to January due to fewer business days. However, year-over-year comparisons were positive, with the Van TVI up 5%, Reefer TVI increasing 9%, and Flatbed TVI rising 2.7% versus February 2024.

“Freight shippers and brokers were eager to put February behind them, despite favorable spot rates for van and reefer freight,” said Ken Adamo, DAT Chief of Analytics. “However, uncertainty about the economy and the artificial acceleration of freight movements ahead of tariff deadlines may lead to a flattened peak shipping season in spring and early summer.”

Spot rates dropped after January gains

Average spot market rates for van and reefer loads declined to pre-holiday-season levels:

• Van: $2.04 per mile, down 11 cents from January
• Reefer: $2.36 per mile, down 18 cents
• Flatbed: $2.45 per mile, up 1 cent

Linehaul rates, which exclude an amount equal to an average fuel surcharge, followed similar patterns. The van linehaul rate averaged $1.64 per mile (down 11 cents), the reefer rate was $1.92 (down 19 cents), and the flatbed rate was $1.97 (up 1 cent).

Spot flatbed rates moved higher, particularly for freight such as construction materials, machinery, steel, and oversized cargo. In some cases, the threat of higher tariffs prompted shippers to move these commodities ahead of a change in policy.

Contract pricing remained steady

While spot rates declined in February, contract freight rates were relatively stable:

• Contract Van: $2.43 per mile, down 1 cent month over month and 7 cents lower than February 2024
• Contract Reefer: $2.75 per mile, unchanged from January and 14 cents lower year over year
• Contract Flatbed: $3.05 per mile, down 2 cents month over month and 7 cents lower year over year

Spread between spot and contract rates jumped for vans, reefers

The difference between contract and spot rates for vans and reefers widened substantially in February, marking the first expansion since September 2024:

• Van: 39 cents per mile, up 10 cents compared to January
• Reefer: 39 cents, up 18 cents
• Flatbed: 60 cents, down 3 cents

An increasing gap between spot and contract rates indicates a shift in pricing power toward shippers and brokers.

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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