Truckload linehaul rates turn positive due to a rising spot market

Cass Transportation Indexes reported truckload linehaul rates (a mix of contract and spot) saw a change in direction in September after four straight monthly declines

Thanks to the rising spot market, truckload linehaul rates (a mix of contract and spot) saw a change in direction in September after four straight monthly declines. We saw a 0.3% m/m increase in this index. Compared to last year, linehaul rates are down more than 3%.

Shipment volumes as measured by the Cass Freight Index fell 1.7% from August, after a 1.0% increase in August, and were down 5.2% y/y.

 

The Cass Truckload Linehaul Index—a measure of the movement in linehaul rates—rose 0.3% m/m in September, the first increase after four straight monthly declines. 

• The y/y decline of 3.5% widened slightly from 3.3% in August. While this has narrowed from a 15% y/y decline a year ago, it seems unlikely to turn positive until early 2025.
• As a broad truckload market indicator, this index includes both spot and contract freight. Spot rates have started to increase, but although we’ve heard of isolated instances of contract rate increases, contract bids remain very competitive.

Category: Driver Stuff, Equipment, Featured, Fleet Tracking, General Update, Management, News, Transit News, Vehicles