Freight Futures data to watch today: Weekly Spot Settlement Changes
A mostly positive Friday capped off a strong week for the Trucking Freight Futures markets as a better-than-expected holiday season is putting upward pressure on spot rates. For the week, nine of the 11 markets posted solid w/w gains. The spot National contract (FUT.VNU201912) was up fractionally on Friday and posted a 1% gain for the week, closing $1.519/mile as was the East regional contract (FUT.VEU201912), which powered to a $0.029 gain for the week to $1.570. The West regional contract (FUT.VWU201912) also had a strong showing, finishing 1.15% up on the week to $1.668. The South regional contract (FUT.VSU201912) had a mixed week and settled fractionally lower to $1.319.
The lanes in the East had a strong showing, driven primarily by renewed conjecture about trade flow shifts into the Eastern ports. The PHL to CHI contract (FUT.VPC201912) jumped $0.051 or 5.22% for the week to $1.028, holding on to most of Tuesday’s 6.6% surge. The ATL to PHL contract (FUT.VAP201912) gained nearly 1.1% for the week and the CHI to ATL contract (FUT.VCA201912) added 0.9% settling at $1.719 and $1.963, respectively. The LAX to SEA contract (FUT.VLS201912) in the West leapt $0.03 higher to $2.085 while the SEA to LAX contract (FIT.VSL201912) gained a pedestrian $0.56% to close at $1.250. Under negative pressure was the DAL to LAX contract (FUT.VDL201912) in the South which lost 1.1%, negating a 0.43% rise in the LAX to DAL contract (FUT.VLD2901912). The contracts finished the week at $1.009 and $1.629, respectively.