Typically, spot truckload freight rates decline in late July. However, this year has been anything, but typical and spot truckload rates have increased for the second week in a row according to DAT Solutions, which operates the DAT One Load Board Network. According to DAT One rates are elevated as shippers and freight brokers turn to the spot market to help them manage imbalances in their supply chains. At once, the number of spot dry van, refrigerated and flatbed loads on DAT One decreased -3% during that final full week of July (ending July 26). Freight rates of course vary from one shipping lane to another. Another reason for increased flatbed rates according to DAT One is the boom in DIY and home construction. Which according to data from the U.S. Dept. of Commerce, experienced a 17% increase in new home construction in June. DAT One say that we can expect ongoing demand to haul standard framing dimension softwood lumber as wholesalers and distributors look to stock depleted inventories.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.