Freight Futures market to watch today: East Region and Lanes
Tuesday’s Trucking Freight Futures market continued a general trend of mixed to positive sentiment. The spot National contract (FUT.VNU201912) settled 0.13% higher to $1.501/mile marking the first time since June (FUT.VNU201906) that the spot month has settled above $1.50/mile outside of the October and November “contract roll” days. In “futures” terms, this is defined as a “resistance point.” The marginal strength in the National contract was driven by 0.4% gain in the East regional contract (FUT.VEU201912) which ended the session at $1.540. Both the West regional (FUT.VWU201912) and South regional (FUT.VSU201912) contracts finished unchanged at $1.649 and $1.314, respectively.
The lanes in the East strengthened across the board with the CHI to ATL contract (FUT.VCA201912) gaining 0.36% to close at $1.944.
The ATL to PHI contract (FUT.VAP201912) rose 0.47% to $1.701 and the PHI to CHI contract (FUT.VPC201912) ended up 0.21% to settle at $0.974. The lanes in the West and the South each finished the session with mixed results. In the West, the SEA to LAX contract (FUT.VSL201912) ended fractionally higher to $1.235 and was offset by a similar decline in the LAX to SEA contract (FUT.VLS201912) to $2.063. In the South, a small bump up in the DAL to LAX contract (FUT.VDL201912) to $1.010 was negated by a dip in the LAX to DAL contract (FUT.VLD201912), which closed at $1.618.
FreightWaves SONAR: Chart
Image Sourced from Pixabay