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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.

Intermodal spot rates on the DrayNow platform saw a decent amount of volatility in our key markets for the month of October, with record highs for the year in Atlanta and Chicago. For context, the average spot rate per mile in the Chicago market was up 9% month-over-month, down 11% in Los Angeles and up 14% in Atlanta.

The cost to move intermodal drayage in the Chicago market continued to rise in October, this time increasing 9% compared to September, which saw a 21% increase. This move brought spot rates to their highest level in 2023. Even though this was a year high, Chicago spot rates were still down 20% compared to October 2022.

Following last month’s sharp 28% increase in the average spot rate per mile, Los Angeles rates have come back down, dropping 11%. Average rates in this market are still much higher than what has been recorded over the past year. In fact, spot rates are up 14% compared to the same time last year.

In October, the Atlanta market saw its most volatile month-over-month change in spot rates, rising 14%. This brought the cost to move intermodal freight to its highest point for the year. Compared to October 2022, Atlanta spot rates are up 1%.

The Chicago and Atlanta markets saw year high spot rates in the month of October, well into peak season. The cost to move intermodal freight is most likely going to keep rising in November and December to close out the year. As we continue through peak season for intermodal volumes, capacity may tighten as more freight becomes available to carriers. This is a great time to turn to DrayNow and secure best-in-class drayage service in our domestic intermodal markets across the country.

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