Freight Futures data to watch today: Spot Month Prices
The Trucking Freight Futures markets are settling into a pattern of generally declining rates with a few exceptions after closing out 2019 and beginning 2020 on a relative tear. The spot National contract (FUT.VNU202001) ended fractionally lower for the third consecutive session at $1.451/mile. The East regional contract (FUT.VEU202001), which until this past week had been the catalyst towards higher rates, ended the day 0.3% lower to $1.626 as did the South regional contract (FUT.VSU202001), which slipped 0.16% to $1.236. Closing higher again was the West regional contract (FUT.VWU202001) which rose 0.3% to $1.491.
The lanes in the East are going through a price correction phase with all three contracts lower for the third straight day. The CHI to ATL contract (FUT.VCA202001) shed 0.2% to settle at $2.045. The ATL to PHL contract (FUT.VAP202001) dropped by 0.34% to close at $1.751 and the PHL to CHI contract (FUT.VPC202001) was down 0.55% to end at $1.082. The lanes in the South were also under downward pressure on Wednesday.
The LAX to SEA contract (FUT.VLD202001) dipped by 0.3% to $1.443 while the DAL to LAX contract (FUT.VDL202001) slid a fraction to $1.029. In the West, the SEA to LAX contract (FUT.VSL202001) saw its nearly two week slide end by closing fractionally higher to $0.956. The LAX to SEA contract (FUT.VLS202001) continued its steady climb by rising another 0.5% to settle at $2.027. Over the past 10 days, the contract has risen nearly $0.09.
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