Freight Futures data to watch today: Weekly change in Futures settlement prices
The Trucking Freight Futures markets ended the week on a generally negative and volatile note, particularly in the West and South regions. The November national contract (FUT.VNU201911) settled down 0.2% on Friday and ended the week down 1.22%, or $0.018 lower at $1.462/mile. The West regional contract (FUT.VWU201911) closed 0.4% lower on Friday to settle at $1.587. The contract was down nearly 2% w/w or $0.032. The South regional contract (FUT.VSU201911) shed 0.53% on Friday to close at $1.317 and was down by 2.15% w/w, or nearly $0.03. The East regional contract (FUT.VEU201911) closed up fractionally on Friday to $1.482 and was able to claw out a gain of almost 0.5% for the week.
The two lanes out of the LAX market came under severe downward pressure at the end of the week after reports of a significant drop in freight at the Los Angeles area ports were published, compounding an already weak holiday season. For the week, the LAX to DAL contract (FUT.VLD201911) in the South was down over 3%, or $0.052, to close at $1.652. This contract has 25,000 miles of open interest. In the West, the LAX to SEA contract (FUT.VLS201911) slid 2.75%, or $0.058 for the week, and finished at $2.052. The only lane that saw any meaningful strength last week was the ATL to PHI contract (FUT.VAP201911) in the East, which rose 1% or $0.016 to $1.610. Total Trucking Freight Futures open interest remained at 36,000 miles.