Freight Futures lane to watch today: East US Long Haul Van Average
Focus on the Trucking Freight Futures market has now shifted from the August futures contracts to the September contracts, as the market prepares for the spot month “Contract Roll,” with the August expiration approaching this week. The September National contract (FUT.VNU201909) closed up 0.8% to $1.431 per mile, driven by a 2.3% jump in the September East regional contract (FUT.VEU201909) to $1.546. The East is being driven higher by the looming threat of Hurricane Dorian and its impact on supply chains and the lanes in the region. Meanwhile, the September South contract (FUT.VSU201909) was fractionally up to $1.245 while the September West contract (FUT.VWU201909) settled down to $1.502.
With Hurricane Dorian approaching, the lanes comprising the East regional average were up across the board. Leading the way was the September PHI to CHI contract (FUT.VPC201909), which was up nearly 3% to $0.932 followed closely by the September CHI to ATL contract (FUT.VCA201909), which closed up 2.6% to $2.022. The September ATL to PHI contract (FUT.VAP201909) settled up 1.6% to $1.683. As for the remainder of the contract markets, the lanes comprising the West and South regions finished the day mostly flat or little changed.