Freight Futures market to watch today: March (Spot) contracts w/w Changes
The spot National contract (FUT.VNU202003) closed down $0.029, or 2.1%, on Friday to $1.355/mile and for the week was $0.042, or 3%, lower. Weighing on the National average was the West regional contract (FUT.VWU202003), which slid $0.043 (3%) on Friday and ended the week $0.048 (3.4%) lower at $1.377. It was the same story for the South regional contract (FUT.VSU202003) as the contract dropped $0.049, or 3.9%, on Friday and was down $0.067 (5.5%) week-over-week (w/w) to $1.161. Dragging the regional contracts lower were the outbound Los Angeles lane contracts, which tumbled due to concerns about freight volumes at the area ports. The East regional contract (FUT.VEU202003) dropped a modest 0.6% for the week to $1.528.
The LAX to SEA contract (FUT.VLS202003) tumbled $0.086 on Friday and was down $0.103, or 5.25%, w/w to $1.859 while the SEA to LAX contract (FUT.VSL202003) rose 0.7% w/w to $0.894. The LAX to DAL contract (FUT.VLD202003) in the South plunged $0.094 for a w/w drop of $0.121 (8.73%) to $1.265. The DAL to LAX contract (FUT.VDL202003) shed $0.012, or 1.1%, for the week to $1.058. There was a little bit of everything in the East. The PHL to CHI contract (FUT.VPC202003) eked out a 0.3% gain for the week to $1.011, while the ATL to PHL contract (FUT.VAP202003) skidded lower by $0.029 (1.6%) w/w to $1.804. The CHI to ATL contract (FUT.VAP202003) finished a choppy week unchanged at $1.770.