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Freight Futures daily curve: 12/2

Freight Futures data to watch today: November/December Contract Roll

This past Wednesday was the last trading session for Trucking Freight Futures due to the Thanksgiving holiday, marking the end to an abbreviated trading week. It was also the final trading session for the November spot contracts, which are now expired. This means that 25,000 miles of open interest in the November LAX to DAL (FUT.VLD201911), 5,000 miles in LAX to SEA (FUT.VLS201911) and 1,000 miles in the National (FUT.VNU201911) contracts are going into final cash settlement. It also means that the spot month has now “rolled” to December and with the roll, there is generally a short-term swing in spot prices.

The National contract (FUT.VNU201912) begins the new month at $1.503/mile or $0.044 higher than November. The East regional contract (FUT.VEU201912) also enters 3% higher at $1.529 and the West regional contract (FUT.VWU201912) comes in 4.4% higher at $1.652. The South regional contract (FUT.VSU201912) is $0.018 over November at $1.327. On the lanes, the ATL to PHI contract (FUT.VAP201912) rolls in at a $0.069 premium to $1.689 with the PHI to CHI contract (FUT.VPC201912) keeping pace with a premium of 5.83% to $0.980. The SEA to LAX contract (FUT.VSL201912) shot up 11% on the roll to $1.246 while the DAL to LAX contract (FUT.VDL201912) came in 6% higher to $1.039. The lone contract to enter December at a discount is the LAX to DAL contract (FUT.VLD201912), which is $0.019 or 1.2% lower at $1.616.

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