Spot Freight Index Up 39%

PORTLAND, OR. — Transcore’s Frieght Index was up 39 percent in October compared to the same month last year.

The measurement of spot market freight volume was the highest for the month of October since 2005 back when demand boosted load volumes to record levels following Hurricane Katrina.

Compared to September, spot market freight volume slipped 3.7 percent month-over-month.

Truckload freight rates also increased year-over-year on the spot market for all equipment types, but, Transcore said, the results were mixed in October compared to September.

Dry van rates climbed 6.3 percent over October 2010, and increased 1.5 percent compared to September. The national average rates for flatbeds increased 12 percent year-over-year, and stayed stable compared to September. Refrigerated van rates were up 2.7 percent year-over-year but dropped seasonally by 2.5 percent compared to September.

Truckload freight rates likewise increased year-over-year on the spot market for all equipment types, but mixed results emerged in October compared to September.

Transcore predicts that in December we’ll see certain Midwestern states — specifically Illinois, Ohio, Indiana and Wisconsin — offer relatively high freight volume with a good ratio of outbound loads. In the southeast, Georgia, Tennessee and North Carolina are also looking good for early winter.