November truckload volumes fell to their lowest level of 2025, with double-digit declines across van, refrigerated, and flatbed segments despite holiday shipping activity, said DAT Freight & Analytics, which operates the DAT One freight marketplace and DAT iQ data analytics service.That result comes from the DAT Truckload Volume Index (TVI), a freight market indicator measuring demand for truckload services. For the month, the index reflected widespread weakness:Van TVI: 197, down 18% month over month and 12% year over yearRefrigerated TVI: 172, down 11% month over month and 6% year over yearFlatbed TVI: 243, down 22% month over month and 3% year over year“With Thanksgiving and Black Friday falling nearly as late as possible on the calendar, there was less urgency to move freight until the final week of the month,” Ken Adamo, DAT Chief of Analytics, said in a release. “With the short holiday week, winter weather, and other disruptions, it was a busy end to an otherwise soft November, but not enough to offset the earlier weakness.”The trend highlighted another recent quirk of the U.S. trucking sector, as freight prices continue to buck standard economic rules.In any marketplace, contracted rates booked ahead of time are typically lower than spot rates, which are last-minute reservations. However, DAT found that average contract rates were higher than spot rates in November, maintaining the pricing dynamic that has persisted across the freight market since early 2022.“The market remains fundamentally inverted,” Adamo said. “Oversupply persists, shippers are cautious amid economic uncertainty, and many carriers…
