Freight Futures markets to watch today: National and Regional Averages
For the second consecutive session, the Trucking Freight Futures market drifted sideways to lower as the market looked for any catalyst to provide direction. The spot National contract (FUT.VNU202002) again finished fractionally lower to $1.418/mile. Weighing on the National average, the West regional contract (FUT.VWU202002) fell slightly to $1.462 as did the South regional contract (FUT.VSU202002), which slipped to $1.210. For the second straight day, the East regional contract (FUT.VEU202002) was unchanged at $1.582.
It was a repeat of Tuesday's market in the East with all three lane contracts finishing unchanged. The CHI to ATL contract (FUT.VCA202002) settled at $1.959, the ATL to PHL contract (FUT.VAP202002) stayed put at $1.656 and the PHL to CHI contract (FUT.VPC202002) ended at $1.131. In the West, both contracts were fractionally lower.
The LAX to SEA contract (FUT.VLS202002) slipped to $1.987 while the SEA to LAX contract (FUT.VSL202002) inched lower to $0.939. In the South, the LAX to DAL contract (FUT.VLD202002) shed 0.2% to close at $1.336, marking the second straight session where both outbound LAX contracts were lower. The DAL to LAX contract (FUT.VDL202002) was unchanged again at $1.084.
FreightWaves SONAR: Chart
Image Sourced from Pixabay