Freight Futures daily curve: 5/1

Freight Futures data to watch today: April Settlements vs. May Settlements

Thursday’s session was the last trading session for the April Trucking Freight Futures contracts, and prices were lower across the board for a seventh consecutive session. The spot National contract (FUT.VNU202004, FUTC1.VNU) finished down 0.7% to close at $1.320 per mile. With the May contract (FUT.VNU202005, FUTC2.VNU) set to become the new “Spot” contract, the roll will bring a nearly $0.10, or 7.5%, premium to the market as the contract closed at $1.419. The East regional contract (FUT.VEU202004, FUTC1.VEU) lost another $0.014 (1%) and settled at $1.397 to end the month, as the May contract (FUT.VEU202005, FUTC2.VEU) rolls in at a $0.093 (6.7%) premium at $1.490. The West regional contract (FUT.VWU202004, FUTC1.VWU) was down 0.5% and closed at $1.377, though the May contract (FUT.VWU202005, FUTC1.VWU) will roll in at a $0.14, or 10%, premium at  $1.516. The South regional contract (FUT.VSU202004, FUTC1.VSU) also dropped 0.5% to end the month at $1.185 as May rolls in at a $0.065 (5.5%) premium at $1.250.

On the individual lanes, each region had one big mover on the roll. In the East, the May ATL to PHL contract (FUT.VAP202005, FUTC2.VAP) becomes the “spot” contract at a whopping $0.358, or 22% premium over its April predecessor (FUT.VAP202004, FUTC1.VAP) at $2.005, while the May ATL to PHL contract (FUT.VAP202005, FUTC2.VAP) rolled in at a $0.073 (4.7%) discount to April (FUT.VAP202004, FUTC1.VAP) at $1.494. In the West, the May LAX to SEA contract (FUT.VLS202005, FUTC2.VLS) enters as the “spot” contract at $2.193, or $0.28 (14.6%) over April (FUT.VLS202004, FUTC1.VLS) and the May LAX to DAL contract (FUT.VLD202005, FUTC2.VLD) in the South rolls in at a 12% ($0.15) premium at $1.385. 

FreightWaves SONAR: Chart

SONAR Tickers: FUTC1.VNU, FUTC1.VXX vs. FUTC2.VNU, FUTC2.VXX (XX = Lane Identifier)