Freight Futures lane to watch today: Atlanta to Philadelphia
It was another mixed session for Trucking Freight Futures, with the spot National contract (FUT.VNU202003) finishing fractionally lower to $1.336 per mile. Both the West and South regions continued to weigh on the National average, with the West regional contract (FUT.VWU202003) slipping 0.6% to $1.346 and the South regional contract (FUT.VSU202003) falling 0.2% to $1.135. The East regional contract (FUT.VEU202003, FUTC1.VEU) was up nearly 0.5% to $1.528 and has remained resilient, despite the recent market turbulence. It continues to benefit from the increased flow of imports into the region (PIMS.USNYC).
Pushing the East higher on Wednesday was the fundamentally sound ATL to PHL contract (FUT.VAP202003, FUTC1.VAP), which gained $0.013, or 0.75%, to $1.798 and the PHL to CHI contract (FUT.VPC202003), which rose 0.8% to $1.011. The CHI to ATL contract (FUT.VCA202003) was unchanged at $1.776. The outbound LAX contracts in the West and South remained under downward pressure while the inbound contracts rose.
In the West, the LAX to SEA contract (FUT.VLS202003) slid $0.022 (1.2%) to settle at $1.795. This drop was mostly offset by a 0.9% increase in the SEA to LAX contract (FUT.VSL202003), which rose to $0.898. In the South, the LAX to DAL contract (FUT.VLD202003) fell $0.016 (1.3%) to $1.207 while the DAL to LAX contract (FUT.VDL202003) climbed $0.011, or 1%, to $1.062.
FreightWaves SONAR: Chart
SONAR Tickers: FUTC1.VAP, FUTC1.VEU, PIMS.USNYC
Image Sourced from Pixabay
