Freight Futures contract to watch today: National and Regional Averages
The Trucking Freight Futures markets finished Thursday’s trading session mostly higher as tighter capacity (VOTRI.USA rising to 8.83%) brought on by the coronavirus pandemic is being reflected in spot rates. The spot National contract (FUT.VNU202003, FUTC1.VNU) edged up a fraction to settle at $1.337 per mile. Stemming recent declines were the West regional (FUT.VWU202003, FUTC1.VWU) and the South regional (FUT.VSU202003, FUTC1.VSU) contracts, which rose 0.15% and 0.1% to $1.348 and $1.136, respectively. Both regions steadied as the outbound LAX lanes reversed course and strengthened. The East regional contract (FUT.VEU202003, FUTC1.VEU) finished the session unchanged at $1.528.
On the Eastern lanes, the ATL to PHL contract (FUT.VAP202003) finished higher by 0.3% to $1.803 on the strength of solid fundamentals but was offset by a drop of 0.6% in the PHL to CHI contract (FUT.VPC202003) to $1.005. The CHI to ATL contract (FUT.VCA202003) finished unchanged for the day at $1.776. In the West, the LAX to SEA contract (FUT.VLS202003) broke its weeklong swoon and ended higher by a fraction to $1.796, and the SEA to LAX contract (FUT.VSL202003) finished at $0.900, rising 0.22% for the day. In the South, the LAX to DAL contract (FUT.VLD202003) eked out a 0.17% gain to $1.209 as the DAL to LAX contract (FUT.VDL202003) held firm at $1.062.