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The content below is for 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 dive on intermodal spot rates, click the link here.

What goes up must come down at some point, and January spot rate trends on the DrayNow platform are no exception. Following increases across our key markets in December, average spot rates dipped for all markets.

The LA market had its most significant decrease in spot rates to date, dropping 21% between December and January. A major reason for this drop is due to longer intermodal freight moves appearing on the DrayNow marketplace. As mileage goes up on a trip, the rate per mile tends to go down and we are seeing that with the influx of long runs. Compared to January 2021, average rates are up 6%.

Though it wasn’t the sharpest drop seen in the Atlanta market, average rates still fell 17% in January, ending months of steady increases. As we’ve seen before in the summer, the trend in Atlanta is for rates to reach record or near-record highs before dropping, so rates will most likely come back up. Compared to the same time in 2021, spot rates are up 38%.

While still showing a decrease in rates, the Chicago market was the least volatile in January, with average rates going down 6%. This also continues the trend of Chicago generally having the most stable spot rates out of our key markets. Spot rates in Chicago are also much higher than they were last year, 39% higher than January 2021.

In our last monthly rate analysis, we predicted that rates would continue to rise in the month of January. This did not happen, and it just goes to show how volatile the market still is with the myriad of factors affecting intermodal freight. With such sharp decreases in average spot rates from some of our markets, we’re forecasting that these averages will rise to stay in line with the usual trends.