Many truckers adjusted their schedules ahead of Memorial Day to avoid running out of hours and getting stuck away from home on the long weekend. As a result, there were fewer trucks available last week, and the tighter truck load capacity pushed rates higher across much of the country.
The big uptick in prices on the top 100 van lanes could signal a big increase in the national average van rate going into June. Rates in many major markets are the highest they’ve been since April 1, and June is on track to be a second peak month of the year (the first being January).
California markets had the biggest uptick in prices. Los Angeles and Stockton, CA, outbound rates were up 5% and 4% respectively. Atlanta also continues to gain strength:
- Atlanta to Columbus, OH, surged 39¢ to an average of $2.58 – that’s higher than the average rate in the southbound direction, which usually pays more. A sign of how bullish prices are out of Atlanta
- Atlanta to Charlotte jumped up 29¢ to $3.36/mile
A couple more northbound moves showing signs of summer:
- L.A. to Seattle was up 29¢ to $3.20/mile
- Memphis to Columbus added 27¢ at $2.84/mile
Increases in the number of inbound loads pushed prices down out of Denver and Philadelphia:
- Denver to Dallas fell 12¢ to just $1.15/mile
- Philadelphia to Charlotte was down 11¢ to $1.67/mile, but that’s still 36¢ above where it was a year ago
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This article was originally featured on DAT.com.