Freight Futures lane to watch today: Los Angeles to Seattle (VLS)
Trucking Freight Futures opened the week on a quiet though mostly positive note with the spot National contract (FUT.VNU201912) inching higher to $1.499/mile. Closing slightly higher as well was the West regional contract (FUT.VWU201912), which settled up 0.15% to $1.649. Both the East regional (FUT.VEU201912) and South regional (FUT.VSU201912) contracts were unchanged and closed at $1.534 and $1.314, respectively.
Market activity on the individual lanes was generally quiet with most of the interest being focused in the West. The LAX to SEA contract (FUT.VLS201912) received the most attention and ended the day 0.34% higher to $2.064. This contract also has 5,000 miles of open interest and has been under recent selling pressure, as seen in the forward curve (FWD) chart below. The SEA to LAX contract (FUT.VSL201912) ended the session flat at $1.234. In the East, the PHI to CHI contract (FUT.VPC201912) rose a fraction to $0.972 while the CHI to ATL contract (FUT.VCA201912) settled at $1.937 and the ATL to PHI contract (FUT.VAP201912) ended at $1.693, both unchanged.
In the South, the DAL to LAX contract (FUT.VDL201912) closed fractionally higher to $1.007 while the LAX to DAL contract (FUT.VLD201912) tripped and fell slightly to $1.621.
FreightWaves SONAR: Chart
SONAR Tickers: FWD.VLS, FWD30.VLS
Image Sourced from Pixabay
