Truckload Linehaul Rates Dip in November
The Cass Truckload Linehaul Index, which tracks monthly changes in linehaul rates, declined 1.5% YoY in November, representing nine consecutive months of YoY declines.
Despite this negative trend, analysts at Avondale Partners commented, “the current strength being reported in spot rates is leading us to believe that [our current -3% to 1% truckload pricing forecast] may need to be improved/moved to a slightly more positive outlook if the strength in spot rates continues long enough to move contract rates back into positive territory.”
The Cass Intermodal Price Index, measuring changes in total intermodal per-mile costs, increased 0.3% YoY in November after rising 0.4% in October.
“This marked the second consecutive month of increases with the data set being influenced by fuel (up 4.2% YoY),” stated Avondale Partners. “We concede that the extent to which loads can be shifted from domestic intermodal back to over-the-road truck is dependent on trucking capacity, which is currently available in most lanes,” Avondale continued.
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