A predictive rate index released Tuesday showed truckload pricing “tumbling” further in the second quarter while less-than-truckload rates stabilize from a “sharp drop” in the first quarter.
The TD Cowen/AFS Freight Index — a compilation of data from third-party logistics provider AFS Logistics and investment bank TD Cowen (NYSE: TD) — showed excess truck capacity and soft demand had carriers competing for loads, driving rates lower during the first quarter.
The index captures trends from AFS...