Freight Futures data to watch today: Spot National vs Regionals
The spot month National contract (FUT.VNU201909) closed down 0.35% to $1.467 per mile. Regionally, the East contract (FUT.VEU201909) continued to give back some of the Dorian risk premiums and settled the day 1% lower at $1.687, while the South contract (FUT.VSU201909) was off $0.002 to $1.224. The West contract ended fractionally higher at $1.489.
Both the spot CHI to ATL (FUT.VCA201909) and the ATL to PHI (FUT.VAP201909) contracts were off more than 1.2% to $2.183 and $1.917, respectively. The forward curves for both lanes (FWD.VCA and FWD.VAP) were lower across the board. The PHI to CHI contract (FUT.VPC201909) continued to move higher and settled up 0.3% to $0.962. This lane has benefited from the increased flow of freight into New York/New Jersey caused by the trade war. Freight rates out of and into the LAX area were mixed. Outbound, the LAX to SEA contract (FUT.VLS201909) closed up 0.5% to $2.043, while the LAX to DAL contract (FUT.VLD201909) closed down 0.3%, at $1.551. Similarly, the inbound DAL to LAX contract (FUT.VDL201909) finished fractionally higher at $0.897 and the SEA to LAX contract (FUT.VSL201909) settled lower by 0.5% at $0.935.