Freight Futures data to watch today: Monday’s closing prices
The Trucking Freight Futures markets began this week where they left off last week, with the National average dragged lower by falling prices in the East region. The September National contract (FUT.VNU201909) finished Monday 0.14% lower to $1.450 per mile, driven by a 0.43% drop in the spot East regional contract (FUT.VEU201909) to $1.632. It would have been a lower close for the National average had the West regional contract (FUT.VWU201909) not finished up 0.13% to $1.497. The South regional contract (FUT.VSU201909) finished the day unchanged at $0.911.
Two lanes captured most of the trading interest Monday. The spot LAX to DAL contract (FUT.VLD201909) was fractionally down to $1.533 and there was trading interest in this lane (VLD) through the end of 2019, which is not surprising given that we are nearing the end of September and there are 25,000 miles of open interest in both the October (FUT.VLD201910) and November (FUT.VLD201911) contracts. The story was much the same on the LAX to SEA lane (VLS), where the spot contract (FUT.VLS201909) rose 0.24% to $2.072 and there was trading interest in the October (FUT.VLS201910), November (FUT.VLS201911) and December (FUT.VLS201912) contracts, with 5,000 miles of open interest in each contract.