DAT’s November Truckload Volume Index sees more mixed results

November spot truckload volumes and rates were largely mixed again, according to the new edition of the DAT Truckload Volume Index, which was recently released by DAT Freight and Analytics.

The DAT Truckload Volume Index reflects the change in the number of loads with a pickup date during that month, with the actual index number normalized each month to accommodate any new data sources without distortion, with a baseline of 100 equal to the number of loads moved in January 2015. It measures dry van, refrigerated (reefer), and flatbed trucks moved by truckload carriers.

November’s TVI dry van freight reading—at 197—fell 18% compared to October, while falling 12% annually. The November refrigerated (reefer) TVI—at 172—was down 11% sequentially and off 6.0% annually. And the flatbed TVI—at 243—was down 22% sequentially and posted a 3% annual gain.   

DAT’s data highlighted the following takeaways for truckload volumes, and rates, for the month of November, including:

• the national average spot van rate was up $0.02, to $2.09 per mile and up $0.06 annually;
• the national average spot reefer rate was up $0.06, to $2.54 per mile and up $0.09 annually;
• the national average flatbed rate declined $0.04, to $2.47 per mile and was up $0.10 annually;
• the contract van rate, at $2.46 per mile, was up $0.04 over October and up $0.06 annually;
• the contract reefer rate, at $2.81 per mile, was up $0.03 over October and up $0.07 annually; and
• the contract flatbed rate, at $3.07 per mile, was up $0.01 over October and up $0.04 annually (DAT said that average contract rates were higher than spot rates in November and maintained the pricing dynamic within the freight market since early 2022)

“With Thanksgiving and Black Friday falling nearly as late as possible on the calendar, there was less urgency to move freight until the final week of the month,” said Ken Adamo, DAT Chief of Analytics. “With the short holiday week, winter weather, and other disruptions, it was a busy end to an otherwise soft November, but not enough to offset the earlier weakness. The market remains fundamentally inverted. Oversupply persists, shippers are cautious amid economic uncertainty, and many carriers are still operating unprofitably. December should bring some seasonal lift, but we will need to see sustained strength after the holidays to gain confidence that the market is poised to flip.”