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The content below is for intermodal freight brokers interested in utilizing the DrayNow spot market. For brokers interested in securing intermodal drayage service for their contracted lanes, please feel free to reach out to us via contact form.

For a look at last month’s data on intermodal spot rates, click the link here.

Spot rate volatility is back in action for intermodal drayage moves, with several of DrayNow’s key markets seeing the greatest change in the average spot rate since March. The Los Angeles market saw a modest 2% increase in spot rates, while Atlanta was down 6% and Chicago plummeted 22%.

The Chicago market has seen major intermodal spot rate volatility in the last two months, increasing 10% in July and then falling 22% in August. This most recent update is the lowest that spot rates in Chicago have been all year. Given the volatility in this particular market, it’s anyone’s guess what trends will appear in the month of September. Compared to August 2022, intermodal spot rates are down 44%.

Another market that saw spot rate decreases was Atlanta, with the average intermodal spot rate falling 6% compared to July. This is the greatest percent change in the market since March, but overall Atlanta has staid one of the most stable, predictable markets in the past year. In comparison to rates in this market from last August, drayage spot rates are down 12%.

For the second month in a row, Los Angeles intermodal spot rates were up, this time rising 2% from July. This market is almost always showing the highest average spot rate, and these recent increases are showing that the cost to move intermodal freight in LA is much greater than the other key markets. Year-over-year, intermodal spot rates in Los Angeles are down 33%.

What is very interesting about the data coming out of August is that while spot rates were down overall, fuel prices are up and have been continuing to rise. This means that there are other external factors impacting the spot rate trends that we are seeing. What is certain is that the price of diesel is not currently making as much of an impact.