Freight Futures market to watch today: South Region and Lanes
With two trading sessions remaining for the spot month contracts, it was a very uneventful session for Trucking Freight Futures with the spot National and three Regional averages. The spot National contract (FUT.VNU202001) finished at $1.453/mile, the East Regional contract (FUT.VEU202001) at $1.621, the West Regional contract (FUT.VWU202001) at $1.520 and the South Regional contract (FUT.VSU202001, FUTC1.VSU) at $1.219.
The lack of movement in the averages was reflected in the individual lane contracts, with the lone exception being in the South. In the East, a fractional rise in the ATL to PHL contract (FUT.VAP202001) to $1.746 was offset by a similar drop in the CHI to ATL contract (FUT.VCA202001) to $2.032. The PHL to CHI contract (FUT.VPC202001) finished the session unchanged at $1.084. In the West, both lane contracts finished even on the day for the third consecutive session. The LAX to SEA contract (FUT.VLS202001) remained at $2.070 as did the SEA to LAX contract (FUT.VSL202001) at $0.969. Since the start of 2020, the lane contracts in the South have moved in opposite directions with the spread widening by $0.18, or nearly 14.5%. The LAX to DAL contract (FUT.VLD202001, FUTC1.VLD) closed higher by 0.4% on the day to $1.466. Since the beginning of January, the contract is up $0.10, or 7.1%. In contrast, the DAL to LAX contract (FUT.VDL202001, FUT.VDLC1.VDL) which dropped by 0.6% for the day to $0.972, has slipped $0.08, or 7.4%, for the month.