Refrigerated Rates
Reefer Rates - January 2025
Reefer Truckload (TL) Sector – January 2025
The reefer market continued to exhibit seasonal strength in December 2024, bolstered by holiday shipping and strong produce demand. Below are updated insights on spot and contract reefer rates.
Spot Market Rates
Reefer spot rates, net of fuel, rose 2¢ month-over-month, averaging $2.06 per mile in December 2024, reflecting a 3.5% year-over-year increase. The seasonally adjusted load-to-truck ratio increased to 7.5 in early January 2025, compared to 7.2 in December, driven by tight capacity and a restart in demand following extended holiday closures.
Contract Market Rates
Reefer contract rates, net of fuel, increased 1¢ month-over-month to $2.34 per mile in December 2024, but remained 2.1% below year-ago levels. Pre-tariff inventory stocking and sustained demand for temperature-controlled freight have contributed to stabilizing contract rates as the market heads into 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 remains tighter than the dry van market, with spot equipment postings declining further in recent weeks; reefer rates continue to trend above seasonal norms in early January 2025.
Tim Denoyer
Vice President & Senior Analyst
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