Freight Futures market to watch today: West Region
The Trucking Freight Futures markets are once again bogged down in a directionless and low volatility cycle. The spot month November National contract (FUT.VNU201911) is at the same level it was at the beginning of last week and finished Thursday’s session unchanged at $1.483/mile. Both the West regional (FUT.VWU201911) and the South regional (FUT.VSU201911) contracts also settled unchanged at $1.628 and $1.350, respectively. The East regional contract (FUT.VEU201911) drifted fractionally higher to finish the day at $1.472.
The individual lanes showed slightly more life than they have the past couple of trading sessions with three contracts closing higher, one lower and three unchanged. On the upside, the SEA to LAX contract (FUT.VSL201911) rose 0.7% to close at $1.148. The entire forward curve for the lane (FWD.VSL) was also up across the board by a similar amount/month. In the East, both the CHI to ATL (FUT.VCP201911) and ATL to PHI (FUT.VAP201911) contracts crept slightly higher, finishing at $1.908 and $1.583, respectively giving the East region its upward nudge. The sole laggard on the lanes was the LAX to SEA contract (FUT.VLS201911), which slipped 0.33% to end at $2.108, offsetting the gain of its sister contract in the West region and dragging the entire forward curve for the lane (FWD.VLS) lower. The remaining three individual lane contracts finished Thursday unchanged.