Freight Futures lanes to watch today: West & South Regions
The spot National Trucking Freight Futures contract (FUT.VNU201019) finished the week unchanged, settling at $1.410 per mile. During the week, the November National contract (FUT.VNU201911) traded at $1.510, which is where the contract settled. As this is the last week of trading for the October spot contract, National futures rates are pointing higher when the November contract becomes the new spot month (futures contract roll). The East regional contract (FUT.VEU201910) ended Friday’s session unchanged for the day and rose fractionally for the week to $1.479. The West regional contract (FUT.VWU201910) finished Friday down 0.13% but eked out a small gain for the week to $1.518. The South regional contract (FUT.VSU201910) settled 0.16% higher on Friday but finished the week down 0.32% to $1.233.
Volatility returned to the lanes in the West and South. For the week, the LAX to SEA contract (FUT.VLS201910) shed $0.011 and settled at $2.041, while the SEA to LAX contract (FUT.VSL201910) gained $0.012, or 1.2%, to close at $0.994. The LAX to DAL contract (FUT.VLD201910) dropped 1.5% or $0.024 and finished the week at $1.589. The DAL to LAX contract (FUT.VDL201910) added $0.015 on the week and settled at $0.876. Total open interest for the week rose by 1,000 miles to 66,000 miles.