Capacity constraints press spot market rates even higher in June

Spot market rates in June showed no signs of slowing their now-year-long upward trek, with per-mile rates in all three major segments again reaching historic heights, according to monthly rates data from Truckstop.com. Of note, reefer’s per-mileage average surged 21 cents in June, pushing its per-mile rate above the $3 mark, to $3.02 a mile.

That’s an 85-cent gain from the same month last year. After cresting at $2.80 a mile in January, reefer rates fell in February and March. Since March, however, reefer rates have gained momentum, with the segment’s per-mile spot market average climbing 54 cents since March.

Van rates also soared in June. Van’s per-mile average jumped 21 cents in June from May, to $2.73 a mile. That’s a 69-cent gain from the same month a year ago and a 35-cent gain in the past three months.

Flatbed’s per-mile average grew 13 cents in June from May, to $2.88 a mile. That’s a 55-cent increase from the same month last year. Flatbed rates have climbed 39 cents a mile since February.

Surging rates pushed owner-operator income higher in the first quarter compared to the same period a year ago, according to data from ATBS.