Freight Futures lane to watch today: Atlanta, GA to Philadelphia, PA (VAP)
Trucking Freight Futures opened the week on a down note with ten of the eleven futures markets lower on Monday. The spot National contract (FUT.VNU202002) slipped 0.14% to close at a $1.413/mile. All three regional averages were lower, as well, led by a 0.4% drop in the South regional contract (FUT.VSU202002) to $1.201. The East regional contract (FUT.VEU202002) slipped a fraction to $1.581 and the West regional contract (FUT.VWU202002) dipped 0.14% to $1.456.
The only bright spot for the day came out of the East where the ATL to PHL contract (FUT.VAP202002, FUTC1.VAP) rose by 0.3% to settle at $1.661. The contract has been inching higher since falling off the cliff after the January/February spot contract roll. The CHI to ATL contract (FUT.VCA202002) dropped nearly 0.4% to $1.952 while the PHL to CHI contract (FUT.VPC202002) slipped a fraction to $1.130.
Looking to the South, the DAL to LAX contract (FUT.VDL202002), which has been anchored at $1.084 since the beginning of the month, finally stumbled and fell 0.75% to $1.076. Coming off a solid 1.7% gain last week, the LAX to DAL contract (FUT.VLD202002) slipped fractionally to $1.327. Over to the West, the LAX to SEA contract (FUT.VLS202002), which also edged higher last week, dipped 0.1% to end at $1.979. The SEA to LAX contract (FUT.VSL202002) continued to struggle in the face of headwinds and settled lower by 0.21% to $0.932.
FreightWaves SONAR: Chart
Image Sourced from Pixabay
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