Cass Information Systems Inc. released its June Index report, with indexes reflecting a market where tight capacity continues to push rates higher even as shipment activity softens. Highlights include:
- Shipments in the Cass Freight Index declined 4.1% y/y in June, marking the lowest June since 2020
- Volumes fell 3.1% m/m, or 2.9% m/m in seasonally adjusted terms
- Expenditures (the total amount spent on freight) increased 11.2% y/y and 2.2% m/m—notable for many reasons including the opposite direction in volume movement
The Cass Truckload Linehaul Index, weighted heavily with contract rates, was up 5.5% YoY, despite a slight 0.9% MoM dip, suggesting a pause in upward momentum rather than a reversal.
The full report can be found here: https://www.cassinfo.com/freight-audit-payment/cass-transportation-indexes