Freight Futures lane to watch today: PHI to CHI lane (VPC)
Trucking Freight Futures closed the week Friday on a generally higher note, with the September National contract (FUT.NVO201909) finishing the day fractionally higher at $1.479 per mile, aided by higher closes in the East regional (FUT.VEU201909) and South regional (FUT.VSU201909) contracts at $1.722 and $1.228, respectively. The West regional contract (FUT.VWU201909) finished the day lower at $1.487. For the week, the National contract lost 0.07%; it essentially ended the week where it began.
The story for the week was Hurricane Dorian and the impact it had on the East. The East regional contract was up another 0.3% this past week as Dorian slowly moved up the coast, after surging nearly 16% the prior week as the storm approached. For the week, the September CHI to ATL contract (FUT.VCA201909) was up nearly 0.25% to $2.277 and the ATL to PHI contract (FUT.VAP2019) was up 0.10% to $1.936. The biggest mover in the East, however, was the PHI to CHI contract (FUT.VPC201909), which rose nearly 1% to $0.954 due to increases in freight coming into the Ports of New York and New Jersey. Over the past month, the forward curve for the lane (FWD.VPC) has shifted higher by over $0.05 per mile.
FreightWaves SONAR: Chart
Image Sourced from Pixabay
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