Freight Futures data to watch today: February Spot Month Contracts
In the first trading session with the February contracts as the new spot month, Trucking Freight Futures staged a small rebound from a mostly negative spot contract roll after Friday's session. The February National contract (FUT.VNU202002) rose 0.55% to settle at $1.421/mile. Pushing the National market higher was the South regional contract (FUT.VSU202002) which rose $0.019, or 1.56%, to close at $1.214 and the West regional contract (FUT.VWU202002) which finished 0.6% higher at $1.467. The East regional contract (FUT.VEU202002) ended the day 0.2% lower at $1.582.
Bullish sentiment on the Outbound LAX lanes continued as it was last week when the January contracts ceased trading and moved into final settlement phase. Though opening sharply lower after the contract roll, the LAX to DAL contract (FUT.VLD202002) in the South jumped $0.37, or 2.5%, and picked up nearly 25% of the decline from the roll. The contract closed at $1.343. The DAL to LAX contract (FUT.VDL202002) ended the session unchanged at $1.084, $0.124 above where the January contract ceased trading.
In the West, the LAX to SEA contract (FUT.VLS202002) gained $0.016, or 0.8%, to settle at $1.993 while the SEA to LAX contract (FUT.VSL202002) inched up a fraction to $0.941. The East was mostly quiet, though lower, with both the CHI to ATL (FUT.VCA202002) and PHL to CHI (FUT.VPC202002) contracts slipping 0.3% to $1.959 and $1.131, respectively, while the ATL to PHL contract finished unchanged at $1.656.
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