Freight Futures markets to watch today: National and Regional Averages
Trading in the February spot month contracts will end after Friday’s session. The markets remain stuck in neutral as the March contracts are set to become the new spot contracts beginning next Monday. The February spot National contract (FUT.VNU202002) continued its nearly week-long streak of being unchanged and settled at $1.393/mile. Following the National contract lead, both the East regional (FUT.VEU202002) and the South regional (FUT.VSU202002) contracts held steady at $1.560 and $1.188, respectively. The West regional contract (FUT.VWU202002) rose by a fraction to end at $1.432. With the spot contract “roll” set to happen after Friday’s session, it looks like the respective March contracts (FUT.VXU202003) could move the national and regional averages higher by a few cents when they become “spot” next week. This said, there are three sessions to go before the roll.
The seven individual lane contracts finished the day with five contracts unchanged and two contracts closing fractionally higher. In the East, the ATL to PHL (FUT.VAP202002) continued inching higher and closed up to $1.665, while both the CHI to ATL (FUT.VCA202002) and PHL to CHI (FUT.VPC202002) contracts were flat at $1.911 and $1.105, respectively. In the South, the LAX to DAL contract (FUT.VLD202002) crept higher to $1.317, while the DAL to LAX contract (FUT.VDL202002) stood pat at $1.060. Both contracts in the West ended the session as they began with the LAX to SEA contract (FUT.VLS202002) closing at $1.950 and the SEA to LAX contract (FUT.VSL202002) finishing the day at $0.913.