Cass Reports 5.6% April Linehaul Rate Increase, 3.2% Monthly Jump
Cass Information Systems reports April TL linehaul rates excluding fuel surged 5.6% year over year and 3.2% from March, marking the largest gains since early 2022. Its expenditures index rose 3.5% y/y and 2.6% m/m, driven by higher diesel prices and core freight rates.
1. TL Linehaul Index Surges 5.6%
April TL linehaul index excluding fuel and surcharges rose 5.6% year over year and 3.2% month over month, marking the largest increases since August and March 2022 respectively. The index has logged y/y gains for 16 consecutive months, reflecting tightening capacity in dry van, reefer and flatbed truckload markets.
2. Expenditures Index and Shipments Trends
Cass' expenditures index, which measures total freight spend including fuel, climbed 3.5% y/y and 2.6% sequentially, propelled by higher diesel prices and core rate hikes. The shipments component of the Cass Freight Index fell 4.4% y/y but rose 0.4% m/m, its third straight monthly gain and a potential signal of a second-half volume recovery.