November 24, 2025
Spot rates rise heading into Thanksgiving week
Broker-posted spot rates in the Truckstop.com system increased for the three principal equipment types during the week ended November 21 (week 46). Spot rates continue to move seasonally, although comparisons with 2024 will be less reliable for a couple of weeks due to calendar distortions. Dry van spot rates rose to their highest level since July while refrigerated spot rates were the strongest since the week before Labor Day. Flatbed spot rates increased for the first time in four weeks.
Total load activity rose 12% after falling nearly 6% in the previous week. Volume was about 19% higher than in the same 2024 week but down close to 16% versus the five-year average for the week. Truck postings ticked up 0.8%, and the Market Demand Index – the ratio of loads to trucks – recovered to essentially the same level as two weeks earlier. Because Thanksgiving fell one week later in the Truckstop.com data last year, unadjusted volume comparisons for the current week (week 47) will be far lower year over year.
The total market broker-posted rate increased 1.7 cents for the strongest gain in seven weeks. Rates were 2% higher than they were during the same 2024 week but about 8% below the five-year average for the week. Historically, dry van spot rates usually rise during Thanksgiving week while refrigerated spot rates usually fall, especially in recent years.
Dry van spot rates increased 3.6 cents – the strongest gain in seven weeks – after ticking up just four tenths of a cent during the previous week. Rates were 2% higher than in the same 2024 week but close to 12% lower than the five-year average for the week. Dry van loads increased 13%. Volume was nearly 23% higher than in the same 2024 week but more than 26% below the five-year average for the week.
Refrigerated spot rates rose nearly 6 cents – the largest increase in 12 weeks – after rising 3.5 cents in the prior week. Rates were about 3% higher than they were during the same 2024 week but almost 8% lower than the five-year average. Refrigerated loads increased 6.5%. Load volume was 15% below the same 2024 week and more than 43% below the five-year average.
Flatbed spot rates increased 1.3 cents – the strongest increase in seven weeks – after declining more than 4 cents in the previous week. Rates were 3% higher than in the same 2024 week but close to 7% below the five-year average for the week. Flatbed loads rose 14.5%. Load volume was more than 31% higher than in the same 2024 week and nearly 2% above the five-year average.
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Truckstop's Brent Hutto dishes on spot market activity and other hot topics.