Freight Futures contract to watch today: February National Contract
After a brief pause for the Presidents' Day holiday on Monday, Trucking Freight Futures fell across the board during Tuesday's session, continuing a nearly two-week tumble. The spot National contract (FUTC1.VNU) slipped 0.6% on the day to settle at $1.393/mile, the lowest point for a spot month settlement since May 2019 and down almost 10% since the beginning of 2020. The February contract (FUT.VNU202002) is down 4.3% since the beginning of the month.
Both the East regional (FUT.VEU202002) and the West regional (FUT.VWU202002) contracts slid 0.5% to close at $1.558 and $1.434, respectively. The South regional contract (FUT.VSU202002) dropped 0.7% for the session to $1.189. The coronavirus continues to hurt market fundamentals.
There was not a bright spot to be found anywhere on the individual lanes. In the East, the PHL to CHI contract (FUT.VPC202002) stumbled by $0.010, or 0.9%, to $1.105 as the CHI to ATL contract (FUT.VCA20202) lost 0.5% to $1.911 and the ATL to PHL contract (FUT.VAP202002) dipped 0.3% to $1.657. Over to the West, the SEA to LAX contract (FUT.VSL202002) dropped 0.9% to $0.918 and the LAX to SEA contract (FUT.VLS202002) fell by 0.3% to $1.950. In the South, the DAL to LAX contract (FUT.VDL202002) skidded nearly 1% to $1.060 while the LAX to DAL contract (FUT.VLD202002) closed down 0.5% to $1.317.
FreightWaves SONAR: Chart
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.