Freight Futures contract to watch today: Spot National Futures Contract
The spot National Trucking Freight Futures contract (FUT.VNU201912) continued to inch higher and settled at $1.518/mile, near all-time spot month highs as national outbound tender rejections (OTRI.USA) sit at 10.36%. Also rising were the East regional contract (FUT.VEU201912), which ended the session fractionally higher to $1.569, and the West regional contract (FUT.VWU201912), which rose 0.5% to $1.663. The South regional contract (FUT.VSU201912) failed to keep pace and fell 0.23% to close at $1.322.
Both lanes in the West had positive momentum and rose on the day. The LAX to SEA contract (FUT.VLS201912) gained $0.013 or 0.63% and finished at $2.076 while the SEA to LAX contract (FUT.VSL201912) eked out a 0.16% gain to close at $1.249. The opposite was true in the South where both lanes stumbled. The LAX to DAL contract (FUT.VLD201912) slipped nearly 0.2% and settled at $1.629. The DAL to LAX contract (FUT.VDL201912) dropped 0.4% to $1.014. Majority was the rule in the East with two of three lanes ending higher. The CHI to ATL contract (FUT.VCA201912) added 0.31% to finish at $1.957 while the ATL to PHL contract gained 0.23% and closed at $1.714. The PHL to CHI contract (FUT.VPC201912) gave back a bit of the 6.6% gain from Tuesday and settled lower to $1.035.