Freight Futures lane to watch today: ATL to PHI lane (FUT.VAP201909)
The attention of the Trucking Freight Futures market is squarely on Hurricane Dorian and what it could mean to not only September rates but to rates through the rest of the fall. As expiration of the spot month Futures contracts happens on Friday, August Trucking Freight Futures contracts closed fractionally lower across the board. The spot month National Van contract (FUT.VNU201908) closed down 0.2% to $1.409 per mile. The September National Van contract closed up 0.7% to $1.438. With the market preparing for the spot month “contract roll,” every indication points to a significant upward shift in the near-term “Forward Curve” shape.
As appears to be the likely scenario for the remainder of the week, the East will continue to be driven higher by the looming threat of a strengthening Hurricane Dorian and its impact on supply chains in Northeast Florida and the lanes in the region into and out of ATL. The September regional contract finished the day up 1.7% to $1.573. The September ATL to PHI contract (FUT.VAP201909) settled up $0.03 to $1.713, though during the intraday trading session the contract was up about $0.11. The CHI to ATL contract (FUT.VCA201909) closed up $0.034 to $2.056.
