Spot Market: The spot market is where loads are booked one at a time at current market rates, rather than under a long-term contract.
Why it matters to owner operators
Spot rates move with supply and demand, so they can be strong in a tight market and weak when trucks are plentiful. Watching lanes and timing helps you catch better rates.
Example
A broker has a load that must move tomorrow and offers a higher spot rate than a contract rate on the same lane.
Related terms
Brokerage & Loads: Not sure a broker or load is worth your time? We check brokers before we book freight for you, and you always choose which loads to haul. Talk to our dispatch team or browse the full trucking glossary.
Haul smarter with a dispatch team behind you
Nexloads finds loads, negotiates rates and handles paperwork for owner operators and small fleets. No forced dispatch and no long-term contracts.