Freight Futures markets to watch today: Eastern Lanes
Trucking Freight Futures markets continued to rise on Wednesday with the spot National contract (FUT.VNU201912) settling 0.33% higher to $1.516/mile. Wednesday’s rally was broad, driven by across-the-board strength, as opposed to Tuesday, which was driven exclusively by the East. The East regional contract (FUT.VEU201912) closed up again by 0.32% to $1.567. Also helping to push the National average higher was the West regional contract (FUT.VWU201912), which ended up 0.36% and the South regional contract (FUT.VSU201912), which climbed 0.3%. The regions settled at $1.655 and $1.325, respectively.
Tuesday’s market rise was almost exclusively driven by a 6.6% surge in the PHL to CHI contract (FUT.VPC201912) but it was a far different story on Wednesday when the contract finished unchanged at $1.039. Tuesday’s “jail break” was aided and abetted by further market conjecture surrounding shifting trade flow patterns from West Coast to the East Coast. The CHI to ATL (FUT.VCA201912) and ATL to PHL (FUT.VAP201912) contracts had a bounce of their own and added 0.25% and 0.53%, respectively, to close at $1.951 and $1.710. Both lanes in the West rose with the LAX to SEA contract (FUT.VLS201912) adding 0.4% to close at $2.063 while the SEA to LAX contract (FUT.VSL201912) settled 0.32% higher to $1.247. The same was true in the South with the LAX to DAL contract (FUT.VLD201912) inching up 0.12% to $1.632 and the DAL to LAX contract (FUT.VDL201912) rising 0.62% to finish the session at $1.018.