Spot rates surge during the week following Thanksgiving

The total market broker-posted rate rose 5.6 cents after increasing 2.5 cents during the previous week. Rates were more than 5% higher than they were during 2024’s week 48 and more than 4% higher than during last year’s week after Thanksgiving. Dry van spot rates have been somewhat stronger than seasonal for a couple of weeks while the latest week was the only one in which refrigerated spot rates deviated from their pattern for 2025. Unusual strength or weakness around holiday weeks should be viewed skeptically as a sign of potential market inflection. Spot rates were notably stronger than usual during the week that included the Fourth of July this year only to return to their prior trajectory the following week. Also, during the current week (week 49), dry van and refrigerated spot rates almost always fall – often quite sharply. Flatbed spot rates also traditionally decline, though they have held basically steady in several recent years.

Dry van spot rates rose just over 4 cents after jumping about 13 cents in the prior week. Rates were about 7% higher than in 2024’s week 48 and close to 5% higher than in last year’s week following Thanksgiving. Both prior-year comparisons were below those in week 47, but otherwise they were the strongest since March 2022. Dry van loads rebounded 113.3% in the week after the holiday to the highest level since November 2023. Volume was about 140% higher than in 2024’s week 48 and almost 22% higher than during last year’s week after Thanksgiving.

Refrigerated spot rates soared just over 21 cents after declining nearly 4 cents during the previous week. Rates were about 15% above 2024’s week 48 and nearly 12% higher than in last year’s week after Thanksgiving. Either way, the prior-year comparison was the strongest since early 2022. Refrigerated loads recovered 90.3% during the week after the holiday to the highest level since this year’s Roadcheck week. Volume was about 67% higher than in 2024’s week 48 but less than 1% higher than during last year’s week after Thanksgiving.

Flatbed spot rates increased nearly 4 cents after holding essentially flat in the prior week. Rates were 4.5% higher than in 2024’s week 48 and 3.6% higher than in last year’s week after Thanksgiving. Flatbed loads surged 154.4% after dropping 53% during the holiday week. Unlike the multi-year milestones set by the van segments, flatbed loads were the highest in only seven weeks. However, load volume was more than 236% higher than that in 2024’s week 48 and 41% higher than during last year’s week after Thanksgiving.