Freight Futures market to watch today: Los Angeles, California
Volatility in Trucking Freight Futures is smoldering but the flames are being stoked by the winds in the Los Angeles market. The spot National contract (FUT.VNU201911) dropped nearly 0.3% to close at $1.476/mile. The West regional contract (FUT.VNU201911) shed $0.01 or 0.62% to finish the trading session at $1.609, its lowest close in almost a month. The South regional contract (FUT.VSU201911) dipped 0.3% and settled at $1.342. The East regional contract (FUT.VEU201911) rose 0.14% on the day and finished at $1.478.
On the individual lanes, the inbound LAX futures contracts finished the trading session higher while the outbound contracts settled lower. The DAL to LAX contract (FUT.VDL201911) settled 0.7% higher to $0.998 as did the SEA to LAX contract (FUT.VSL201911), which ended the day up nearly 0.3% to $1.128. Conversely, the LAX to DAL contract (FUT.VLD201911) skidded lower by $0.016 or nearly 1% to $1.685. Similarly, the LAX to SEA contract (FUT.VLS201911) fell $0.024 or 1.14% to $2.089. Traders attributed the drop in rates out of LAX to the weak holiday season. Fractional gains in the CHI to ATL (FUT.VCA201911), ATL to PHI (FUT.VAP201911) and PHI to CHI (FUT.VPC201911) contracts in the East helped push the regional average higher.