Cass Information Systems reported that its truckload linehaul index, which excludes fuel and accessorial surcharges, rose 5.5% year over year in June, marking the 18th consecutive month of annual increases. The broader expenditures index, measuring total freight spend, surged 11.2% year over year, driven by higher rates and a 40% jump in retail diesel fuel prices. However, the shipments component of the Cass Freight Index fell 4.1% year over year, accelerating from a 1.2% decline in May, and slid 3.1% sequentially. The report noted that tighter supply remains the main reason for accelerating rates, while a demand recovery may be delayed by inflation and a low U.S. savings rate.
Cass Information Systems IncCass Information Systems' own index shows rising linehaul rates, indicating stronger demand for its freight payment and data services.
JB Hunt Transport Services IncCass Freight Index shipments fell 4.1% year over year, signaling weak freight demand that negatively impacts JB Hunt's truckload volumes.