FreightWaves TRAC (Trusted Rate Assessment Consortium) Spot Rates

WHAT IS IT?

Average buy (to the carrier) rate derived from 3PL and freight brokerage reported by booked or covered date. TRAC contributors provide daily load data consisting of rate-information for hundreds of thousands of unique loads (i.e., different combinations of dates, modes, and zip3-lanes). More than a simple average, FreightWaves weights the values based on:

  1. Proximity to the specified origin/destination with a maximum of a 300 mile radius and
  2. Length of time to the current date.

The further away in geographical or temporal distance a load is to the user specified lane, the lower the weight.

For a lane to be reportable it has to meet the minimum criteria of at least 5 contributors with no one contributor comprising more than 25% of the total volume of a lane. These rates are reported daily with yesterday’s data updating at 11 am ET.

TRAC Spot Rates are reported in the SONAR Market Dashboard, Market Dashboard +Plus and SCI application that provides additional context around the rates.

TRAC Spot Rates are available for Van, Refrigerated and Flatbed freight.

  • Flatbed rates are generated from TRAC data at the KMA level. SONAR calculates these rates using improved methodology that begins at the origin and destination markets and iteratively expands in time and space until we have data from at least five unique contributors.
    These rates do not reflect special requirements such as oversized loads or custom equipment. To learn more about KMA rate calculations, click here

WHO IS INTERESTED?

Anyone who is involved in truck transportation. Brokers, Carrier Pricing, Carrier Sales, Load Planners, Transportation Managers

WHAT DOES IT TELL ME?

TRAC Spot Rates tell the user what an average spot rate negotiated directly with the carrier might be on a daily basis along with giving its direction in a given lane. When viewed in the Market Dashboard users will be able to see how pricing conditions are changing over time by viewing the rate history as well as seeing where the market may have opportunities when paired with other data points such as tender rejections or capacity trend scores.

An additional feature that our contributors get is the ability to benchmark their rates with all other contributors. Below is a video highlighting this.

 

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Related Topics

TRAC Forecast

Key Market Areas (KMAs)

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