Dry van spot rates hit $3.05 a mile, highest since Feb 2022: what it means for feed
DAT's national average dry van spot rate reached $3.05 per mile in October, the highest monthly average since February 2022, and contract rates matched a record. Fuel accounts for about 83 cents of the rate even as volumes fell year on year.
· Feedsoft Markets Desk
TRANSCRIPT
$3.05 a mile. That was the average cost to book a dry van truck on the US spot market in October.
Highest since February 2022. DAT says it's the highest monthly average in over three and a half years. Contract rates matched a record too.
Fuel takes a big bite. About 83 cents of every mile is fuel. That's more than a quarter of the whole rate.
Fewer loads, higher rates. Volumes fell from a year ago, and rates still climbed. Spot rate means the price to book a truck now, with no contract.
What it means for feed. Trucking feed and grain inland costs more. Check the freight line on your delivered quotes.
Read the full analysis: feedsoft.ai/events/97047-dry-van-spot-rates-hit-3-05-a-mile-but-fuel-is-taking-a-big-share
Market information, not investment advice.