Freight Futures market to watch today: Los Angeles, CA
Trucking Freight Futures continued to be roiled by the collapse in the global equities and oil markets on Monday. The spot National contract (FUT.VNU202003) slid $0.018, or 1.3%, to $1.337/mile, breaking the all-time low of $1.340 set nearly a year ago. Also sliding were the West regional (FUT.VWU202003) and South regional (FUT.VSU202003) contracts which fell $0.025 (1.8%) and $0.024 (2.1%) to $1.352 and $1.137, respectively. The East regional contract slipped a modest 0.04% for the session to $1.552.
As with the end of last week, two lanes were the primary catalyst for driving the market lower. The outbound LAX to DAL contract (FUT.VLD202003, FUTC1.VLD) fell $0.042 (3.3%) to $1.223 and the LAX to SEA contract (FUT.VLS202003, FUTC1.VLS) slid $0.041 (2.2%) to finish at $1.818. This comes on the heels of last week’s $0.12 (8.7%) and $0.10 (5.25%) slide, respectively. The inbound SEA to LAX contract (FUT.VSL202003) fell 0.9% to $0.886 while the DAL to LAX contract (FUT.VDL202003) shed 0.8% to $1.050. In the East, the CHI to ATL contract (FUT.VCA202003) eked out a 0.4% gain to $1.776 while the ATL to PHL (FUT.VAP202003) dropped by $0.018, or 1%, to $1.786 and the PHL to CHI contract (FUT.VPC202003) came in lower by 0.8% to settle at $1.003.