US truckload volumes fall for fourth month in October

For the first time in 2025, the DAT Truckload Volume Index (TVI) for all equipment types fell both month over month and year over year. The Van TVI dropped to 232 (–3 per cent m-o-m, –11 per cent y-o-y), Reefer TVI to 184 (–2 per cent m-o-m, –7 per cent y-o-y), and Flatbed TVI to 305 (–4 per cent m-o-m, –3 per cent y-o-y).

“Freight volumes in the third quarter and October reflect what we’re seeing in the broader goods economy, with shippers drawing on inventory built up earlier in the year to reduce their exposure to tariffs and weak consumer demand,” said Ken Adamo, DAT chief of analytics. “As a result, the latest readings from the Truckload Volume Index show the traditional peak holiday shipping season looks virtually non-existent this year.”

Despite declining freight volumes, tightening capacity pushed spot truckload rates higher in October. National average spot van rates rose to $2.07 per mile, reefers to $2.48, and flatbeds to $2.51—all above October 2024 levels. Contract rates were largely stable: vans held at $2.42, reefers inched up to $2.78, and flatbeds to $3.09 per mile, DAT Freight & Analytics said in its study.

While dry van rates on new contracts are averaging 1-2 per cent less than the rates they are replacing, new contract rates for temperature-controlled freight are beginning to rise, noted Dr Chris Caplice, DAT chief scientist.

“While it’s a buyer’s market for truckload transportation, it’s also buyer beware,” Caplice said. “Polling of shippers in our DAT iQ Benchmark consortium shows they’re prioritising reliable capacity over securing minor cost savings on new contracts. Carrier survivability and overall viability are becoming growing concerns.”

ALCHEMPro News Desk (RR)