Freight Futures contract to watch today:Spot month futures w/w changes
Trucking Freight Futures posted moderate gains across the board on Friday, March 13 to wrap up a tumultuous week as the global pandemic roiled the global equities and oil markets, as well as strained supply chains. For the week, the spot National contract (FUT.VNU202003) ended $0.015, or 1.1%, lower to $1.340/mile. While the East regional contract (FUT.VEU202003) closed fractionally higher w/w to $1.530, both the West regional (FUT.VWU202003) and South regional (FUT.VSU202003) contracts slid 1.9% to settle at $1.351 and $1.139, respectively. Both regions were dragged lower by more steep declines in the outbound LAX lanes.
In the East, the CHI to ATL (FUT.VCA202003) and ATL to PHL (FUT.VAP202003) contracts posted gains of 0.34% and 0.11% for the week to end at $1.776 and $1.806, respectively. The PHL to CHI contract fell 0.3% to $1.008. In the West, the LAX to SEA contract (FUT.VLS202003) tumbled $0.06, or 3.2%, w/w to $1.799, compounding last week's $0.103, or 5.25%, dive.
The SEA to LAX contract (FUT.VSL202003) added 0.9% for the week and settled at $0.902. In the South, the LAX to DAL contract (FUT.VLD202003) took another pounding by falling $0.054 (4.3%) to $1.211. Over the past two weeks, the contract has fallen $0.175, or about 13%. The DAL to LAX contract (FUT.VDL202003) rose $0.01 (0.9%) to end the week at $1.067.
FreightWaves SONAR: Tree Map Watchlist
Image Sourced from Pixabay