Freight Futures daily curve: 3/2

Freight Futures markets to watch today: February contracts w/w Change

What a difference a week makes as macroeconomic fears resulting from the coronavirus and its impact on the U.S. equities markets have stirred volatility in the Trucking Freight Futures markets. Friday also marked the final trading day for the February spot contracts and with Monday’s trading session, March becomes the new spot month. On Friday, the February National contract (FUT.VNU202002) fell $0.012 to settle at $1.362/mile, $0.031 (2.2%) lower w/w. This represents the lowest spot month close since the April 2019 contract (FUT.VNU201904) traded at $1.34/mile, 11 months ago. The East regional contract (FUT.VEU202002) skidded $0.039 on Friday and $0.048 (3.1%) for the week to $1.511. The West regional contract (FUT.VWU202002) was down a modest 0.3% on Friday and $0.016, or 1.1% w/w, to $1.415 while the South regional contract (FUT.VSU202002) gained 0.43% on Friday but was still $0.028 (2.4%) lower on the week to $1.160.

There were big movers, up and down, on the individual lane contracts on Friday. However, all but the ATL to PHL contract (FUT.VAP202002) in the East, which rose $0.037 (2.26%) on Friday to $1.671, up 0.5% w/w, finished lower for the week. The CHI to ATL contract (FUT.VCA202002) tumbled $0.095, or 5% on Friday and w/w, to $1.816. It was the story for the PHL to CHI contract (FUT.VPC202002), which slid $0.06 (5.4%) on the day and w/w to $1.045. In the West, the LAX to SEA contract (FUT.VLS202002) dropped $0.027 (1.4%) on Friday and w/w to $1.923 while the SEA to LAX contract (FUT.VSL202002) rose $0.021 (2.4%) on the day, but finished lower w/w by 0.7% to $0.907. In the West, the LAX to DAL contract (FUT.VLD202002) slipped fractionally on both Friday and for the week to $1.314. The DAL to LAX contract (FUT.VDL202002) added $0.012 (1.2%) on Friday, rebounding from Thursday’s 6.1% drop, yet was still lower by $0.053 (5%) w/w to $1.007.

SONAR Ticker: Tree Watchlist – February Contracts w/w Changes (FUT.VXX202002)