Freight Futures market to watch today: Atlanta, Georgia
The Trucking Freight Futures markets have settled into a definitive pattern over the past week, underscored by very little volatility outside of the East region. The spot National contract (FUT.VNU201910) finished 0.21% higher on the day to $1.434 per mile, driven by a 0.8% increase or $0.011 in the East regional contract (FUT.VEU201910) to $1.461. As has been the case all week, both the West regional (FUT.VWU201910) and South regional (FUT.VSU201910) contracts finished the trading session unchanged at $1.547 and $1.295, respectively.
Futures prices in the East region have been influenced over the past 7 trading sessions by fundamental conditions around the Philadelphia market. Also impacting rates are the fundamentals in the Atlanta market, as reflected in a recent increase in both inbound (VITRI.ATL) and outbound (VOTRI.ATLPHL) tender rejections. The ATL to PHI contract (FUT.VAP201910) was the big gainer for the day, up 1.36% or $0.021 to settle at $1.536. The entire curve for the lane (FWD.VAP) followed suit and shifted higher by $0.02 per mile on average per month. Also rising was the CHI to ATL contract (FUT.VCA201910), which closed up 0.32% to $1.879. The PHI to CHI contract (FUT.VPC201910) ended up 0.43% to $0.940, capping a "clean sweep" for the East.
FreightWaves SONAR: Chart
SONAR Tickers: FUT.VEU201910, VOTRI.ATLPHL, VITRI.ATL
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