What is it?
The average base rate (no fuel or accessorial charges) of mostly contracted freight volumes reported on a 14-day (Initial, 1) and varying period lags (Final, F) on a national level. They are segmented into van, reefer, intermodal, and Less-than-Truckload (LTL) modes. Van, reefer, and intermodal rates are expressed in a rate per mile, while LTL rates are expressed in a revenue per hundredweight (CWT) format.
Each mode has two tickers, one for the initial report, which has approximately 50% of the total volume and another final report which has more than 70%. The tickers are as follows:
- Van initial (14-day) – VCRPM1.USA
- Van final (56-day) – VCRPMF.USA
- Reefer initial (14-day) – RCRPM1.USA
- Reefer final (28-day) – RCRPMF.USA
- Intermodal initial (14-day) – IMCRPM1.USA
- Intermodal final (28-day) – IMCRPMF.USA
- LTL initial (14-day) – LCWT1.USA
- LTL final (42-day) – LCWTF.USA
Who is interested?
Pricing Analysts, Industry experts, Transportation executives, Transportation Managers
What does it tell me?
Average contract rates show trends developing in long-term pricing agreements. Unlike the spot market, contracted agreements have a longer cycle and are typically negotiated on an annual basis. While the spot market tends to lead changes in the contracted realm, it can be difficult to see when and by how much these rates change in reaction to daily market fluctuations over time.
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