Cass Information System and partner ACT Research are out with their latest Freight Report for June 2022, based as always from data gleened for the billons of dollars of freight bills Cass pays for its customers.
As always, Cass starts with a summary chart, which you will find below:
Source: Cass
The chart offers a mixed picture on conditions in the US.
US shipments in June, across a variety of modes but weighted toward truckload freight, were down year over year and versus May.
But freight expenditures were still stong, up 25% versus 2021, indicating rates were up.
And indeed, the Cass Linehaul Index, which measures US contract truckload rates before fuel surcharge and accessorials, was up 11.6% year-over-year, though down a bit versus May.
So slowing freight demand has slowed it appears the growth in rates but not sent them lower.
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