Spot truckload freight volumes fell in February as seasonal trends, winter weather, and economic uncertainty influenced shipping activity, according to DAT Freight & Analytics.
The DAT Truckload Volume Index (TVI), which tracks monthly shipments of dry van, refrigerated, and flatbed loads, showed declines in van and reefer freight compared to January. The van TVI dropped 8.5% to 258, while the reefer TVI declined 11.3% to 212. Flatbed freight was an outlier, inching up 0.4% to 263.
“Freight shippers and brokers were eager to put February behind them, despite favorable spot rates for van and reefer freight,” said Ken Adamo, chief of analytics at DAT. He noted that uncertainty surrounding the economy and accelerated shipments ahead of potential tariff changes could impact the peak shipping season in the coming months.
Spot market rates also declined after January gains, returning to pre-holiday levels. Van rates fell 11 cents to $2.04 per mile, while reefer rates dropped 18 cents to $2.36 per mile. Flatbed rates rose slightly by 1 cent to $2.45 per mile. Excluding fuel surcharges, linehaul rates followed similar patterns.
Despite the month-over-month drop, year-over-year comparisons remained positive. The van TVI was up 5%, reefer freight increased 9%, and flatbed volumes rose 2.7% compared to February 2024.
Contract freight rates remained relatively stable, with slight month-over-month declines. The spread between contract and spot rates widened in February, particularly for van and reefer shipments. The gap for both segments increased to 39 cents per mile, indicating a shift in pricing power toward shippers and brokers.
The DAT Truckload Volume Index measures the number of loads moved each month, using a baseline of 100 set in January 2015. DAT benchmark spot rates are derived from invoice data on hauls of 250 miles or more.
DAT Freight & Analytics operates DAT One, North America’s largest truckload freight marketplace, and DAT iQ, a leading freight data analytics service. The company provides market trends and insights based on nearly 700,000 daily load posts and a database of more than $1 trillion in freight transactions.
