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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 recurring lanes, please feel free to reach out to us via contact form.

Check out last month’s data on intermodal spot rates.

With the exception of Chicago, intermodal spot rates on the DrayNow platform did not see too much change in May compared to the prior month. Chicago rates were down 34%, spot rates in Atlanta were down 4% and Los Angeles rates were up 1%.

The most significant update from the past month would be Chicago intermodal drayage spot rates stabilizing. Following their 65% increase in April, the average spot rates in Chicago were down 34% in May. Last month, we discussed how the rapid increase in rates was due to shorter mileage trips dominating the market. We also said that rates would most likely go back down if there was an increase in the average distance, which is exactly what happened. Compared to May 2023, average spot rates in Chicago are down 3%.

Along with a drop in Chicago rates, the Atlanta market too had a decrease in average intermodal drayage spot rates, dropping 4% month-over-month. The cost to move freight here is still higher than both Chicago and Los Angeles. In comparison to the same time last year, intermodal spot rates in Atlanta are now 12% higher.

The Los Angeles market was the only key market on the DrayNow platform to see intermodal spot rates increase month-over-month, going up 1%. With spot rates dropping in Chicago, Los Angeles spot rates are back in the middle of the pack. Spot freight costs were 2% lower in May of this year compared to the same time last year.

There is still a lot of spot rate volatility according to the data from our platform, but most of that continues to be due to the Chicago market. During this time, diesel prices have been on the decline, but that has not seemed to affect the spot market too much. As diesel prices are expected to continue going down, it’s key to keep an eye on what lies ahead for spot rate trends.

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