Demand for Trucks and Cost per Mile Increases for Third Month in a Row
According to the DAT Network, nationally demand for trucks, flatbeds, vans and refrigerated units was up for the third straight month in a row, up almost 25% in certain shipping lanes and more than double the number for July 2019. With the increase in demand for trucks, comes the inevitable increase in cost per mile being charged for the service. Construction activity remains strong, contributing to a national flatbed load-to-truck ratio of 24.8 in June, the highest number since July 2018. July flatbed volume was steady compared to June but was down -6.6% compared to July 2019 numbers. The national average flatbed spot rate was $2.20 per mile, 13 cents more than June but -7 cents lower than July 2019. Flatbed rates are uncertain in August, but carriers can expect ongoing demand in construction, specifically for standard framing dimension softwood lumber used in new home construction.
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.