Freight Futures market to watch today: South Region
Trading interest in the Trucking Freight Futures markets shifted significantly during Thursday's trading session with volatility returning to the West and South, while tranquility was the story in the East. The spot National contract (FUT.VNU201910) finished the day down nearly 1%, or $0.013 to $1.421 per mile. Both the West and South regions had been flat the entire week but that changed dramatically during the day's session with the West regional contract (FUT.VWU201910) down 1%, or $0.015 to $1.532, and the South regional contract (FUT.VSU201910) falling 1.8%, or $0.023 to $1.272. The drop appears to be a result of the market digesting concerns that the trade war with China had a larger-than-anticipated impact on imports from China. The East regional contract (FUT.VEU201910) settled unchanged at $1.461.
The LAX to DAL contract (FUT.VLD201910) in the South bore the brunt of the downward pressure and tumbled 2.15%, or $0.037 on the day to $1.682. The DAL to LAX contract (FUT.VDL201910) also fell by a little over 1% to settle at $0.862. In the West, the LAX to SEA contract (FUT.VLS201910) slid 1.28%, or $0.027, during the session to $2.075 while the SEA to LAX contract (FUT.VSL201910) shed 0.2% down to $0.862. The three contracts in the East each finished with no change on the day.
FreightWaves SONAR: Chart
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