Freight Futures data to watch today: Spot Month Settlement Prices
The Trucking Freight Futures markets staged a strong rally on Monday after being closed Friday in observance of the Good Friday holiday. The spot National contract (FUT.VNU202004) jumped $0.011, or 0.8%, to $1.410 per mile, breaking a 10-session lull at $1.399 and bucking the trend of declining “spot” freight rates. The East regional contract (FUT.VEU202004) rose $0.012 (0.8%) to $1.538; the West regional contract (FUT.VWU202004) climbed $0.014 (1%) to $1.435; and the South regional contract (FUT.VSU202004) rose 0.6% to $1.258.
Six of the seven individual lane contracts closed higher on Monday, with the lone exception being the DAL to LAX contract (FUT.VDL202004) in the South, which slipped 0.17% to $1.168. The LAX to DAL contract (FUT.VLD202004) jumped $0.015 (1.13%) to $1.347. In the East, the ATL to PHL contract (FUT.VAP202004) shot up nearly $0.02 to $1.881, and both the CHI to ATL (FUT.VCA202004) and the PHL to CHI (FUT.VPC202004) contracts rose nearly $0.01 to $1.693 and $1.039, respectively. In the West, the LAX to SEA contract (FUT.VLS202004) rocketed higher by $0.022, or 1.14%, to $1.959, and the SEA to LAX contract (FUT.VSL202004) rose a modest 0.7% to $0.911.