Refrigerated Rates

Reefer Truckload (TL) Sector – August 2025

The reefer market remained steady in July 2025, supported by lingering seasonal volumes and constrained equipment growth. While broader freight conditions remain soft, temperature-controlled freight continues to benefit from more stable demand drivers. Below are the latest insights on spot and contract reefer rates.

Spot Market Rates

Reefer spot rates declined slightly in July, easing 1¢ month-over-month as produce-related shipments tapered and summer demand began to soften. Load postings remained elevated compared to year-ago levels, but the load-to-truck ratio trended lower, reflecting improving capacity availability. Equipment availability remains pressured by high trailer costs and constrained build activity, helping to limit downward pressure on rates.

Despite the recent moderation, reefer volumes are still outperforming other segments due to sustained demand from food distribution, healthcare logistics, and cold chain essentials. This relative strength is helping insulate the segment from the broader freight downturn.

Contract Market Rates

Reefer contract rates held flat in July, continuing a trend of pricing stability seen since early Q2. Rates remain in line with prior-year levels, as shippers maintain disciplined cost strategies and avoid long-term pricing risk. Carriers are still navigating elevated input costs, particularly around equipment, fuel, and maintenance, which limits their flexibility during bid cycles.

While stable demand in food, pharmaceuticals, and temperature-sensitive consumer goods continues to provide a pricing floor, limited rate upside is expected without a broader market recovery. Barring a surge in late-year seasonal freight, contract rates are likely to remain flat through Q3.

To see how reefer rates change in the future, and for detailed analysis and forecasts for truckload, less-than-truckload, and intermodal, see ACT's freight & transportation forecast.