Freight Futures market to watch today: Los Angeles, California
Trucking Freight Futures mostly finished the week on a positive note. On Friday, the spot National contract (FUT.VNU201910) settled up 0.21% to $1.432 per mile. For the week, the National contract ended 0.35% higher, though rates remain in a stable band. The futures market was buoyed on Friday by the announcement of a phase one deal between the U.S. and China, particularly the West and South regions. The West regional contract (FUT.VWU201910) closed up 0.45% on Friday to finish the week at $1.547 and the South regional contract rose nearly $0.1, ending the week at $1.295. The East regional contract (FUT.VEU201910) fell by 0.34% to $1.455, though still added 0.83% or $0.012 on the week.
Friday’s markets saw the Western and Southern lanes gaining while there was some softening of rates in the East. Rates out of Los Angeles showed particular strength, with the LAX to DAL contract (FUT.VLD201910) up $0.016 to $1.728 and the LAX to SEA contract (FUT.VLS201910) rising $0.012 to $2.103, lifting their respective forward curves higher. In the East, rates in and out of Philadelphia declined, with the PHI to CHI contract (FUT.VPC201910) falling 1.16% to $0.941, wiping out its gain for the week. The ATL to PHI contract (FUT.VAP201910) dropped $0.013, falling to $1.552.
