Cass Reports Truckload Rates Rise 11% Year-Over-Year as Shipment Volumes Turn Positive
Truckload linehaul rates surged by 11.3% year-over-year in August, according to Cass Information Systems (NASDAQ: CASS), marking the largest increase since June 2022 and continuing a streak of 20 consecutive annual gains. The data also showed freight shipment volumes rose for the first time after 42 months of declines, with an overall 2.1% year-over-year growth in shipments. Cass' expenditures index, which includes fuel costs, increased by 18.7% y/y as higher diesel prices contributed to rising spending on freight. The report attributes part of the recent shift toward trucking from rail and ocean transport to a restocking cycle driven by elevated ocean volumes and tariff refunds. However, it also notes potential headwinds due to risks in consumer spending. The data is based on $37 billion in annual freight payables processed for Cass clients.
Tickers: $CASS
Topics: Cass data freight volumes truckload rates