Freight Futures contract to watch today: Atlanta to Philadelphia (VAP)
Trucking Freight Futures prices continued to tumble and were lower across the board for a sixth consecutive session on Wednesday. The spot National contract (FUT.VNU202004) finished down $0.01, or 0.75%, to close at $1.329 per mile. The East regional contract (FUT.VEU202004) lost another $0.015 (1%) and settled at $1.411, while the South regional contract (FUT.VSU202004) dropped 0.8% to end at $1.191. The West regional contract (FUT.VWU202004) was down 0.7% and closed at $1.384.
The East region continues to be under selling pressure and is the primary drag on rates. The ATL to PHL contract (FUT.VAP202004, FUTC1.VAP) continues to lead the way and dropped another $0.022, or 1.3%, to $1.670. Over the course of the month, the contract is down nearly 11.5%. The CHI to ATL contract (FUT.VCA202004) dropped $0.017 (1%) to $1.581, and the PHL to CHI contract (FUT.VPC202004) lost 0.5% to end at $0.983. The LAX to DAL contract (FUT.VLD202004) in the South slid 0.7% to $1.247, while the DAL to LAX contract (FUT.VDL202004) fell 0.6%, to close at $1.135. In the West, the SEA to LAX contract (FUT.VSL202004) and the LAX to SEA contract (FUT.VLS202004) both fell modestly again to settle at $0.849 and $1.920, respectively.
