Freight Trucking Rates in April 2024

As of April 2024, ACT's For-Hire Trucking Index: Freight Rates fell 4.2 points in April to 39.7 (seasonally adjusted), as competition remains elevated, but the next few months will be more meaningful as bid season heats up. Early indications of improvement in rates and shipper accuracy in their bid compliance suggest these low levels are unlikely to stick.

Dry van spot rates are $1.53 per mile; DAT reefer spot rates are $1.83 per mile; and flatbed spot rates are $1.98 per mile.

Dry Van Freight Rates in April 2024

Dry van spot rates fell 2¢ m/m in April. DAT dry van contract rates are $2.00 per mile, falling 1¢ m/m from March.

Contract rates have been in a 5¢ range for nine months, following the stabilization in spot rates for nearly a year now, and ongoing bid pressure may be offset by improving freight mix as the market balance improves for fleets.

Refrigerated Freight Rates in April 2024

Reefer spot rates fell 3¢ m/m in April. Reefer contract rates were up 1¢ m/m in April at $2.35 per mile.

In early May, reefer rates were trending slightly above seasonality.

Flatbed Freight Rates in April 2024

Flatbed spot rates rose 2¢ m/m. Flatbed contract rates were unchanged at $2.55 per mile in April.

Flatbed rates are rising most out of the Southeast, Texas, and California.

To see how freight trucking rates change in the future, and for detailed analysis and forecasts, see ACT's freight & transportation forecast.