It’s a measure of market fluctuations in per-mile truckload linehaul rates, independent of additional cost components such as fuel and accessorials
The index fell another 1.2% year over year in May after declines of 0.6% and 2.3% in March and April respectively.
With three consecutive months of price declines, the domestic truckload market continues to face softer demand and excess capacity.
Cass notes “Driver pay increases, overall fleet growth, reduction in carrier bankruptcies, and an easing of the 34-hour restart rule are some of the contributing factors.”
Cass Freight Index
The Cass Freight Index is a measure of North American freight volumes and expenditures.
That index is anemic compared to prior years.
The freight index for every month this year is below the respective values for 2103, 2014, and 2015.
Mike “Mish” Shedlock