Refrigerated Rates
Reefer Rates in December 2024
Updated Reefer Truckload (TL) Sector Overview – December 2024
The reefer market experienced seasonal strength in November 2024, driven by holiday shipping and continued produce demand. Below are updated insights on spot and contract reefer rates.
Spot Market Rates
Reefer spot rates, net of fuel, rose 7¢ month-over-month, averaging $2.04 per mile in November 2024, marking a 5.2% year-over-year increase. The load-to-truck ratio climbed to 7.1, up from 6.1 in October, indicating tightening capacity amid holiday-driven demand.
Contract Market Rates
Reefer contract rates, net of fuel, rose 2¢ month-over-month to $2.33 per mile, though still 1.7% below year-ago levels. Steady holiday shipping volumes and pre-tariff stocking have stabilized the contract market heading into early 2025.
To see how reefer rates change in the future, and for detailed analysis and forecasts for truckload, less-than-truckload, and intermodal, see ACT's freight & transportation forecast.
Reefer capacity is tighter than the dry van market, and spot equipment postings contracted quickly in this trailer type in recent weeks. Like dry van rates, reefer rates are also trending above seasonality in early December.
Tim Denoyer
Vice President & Senior Analyst
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