July data from Cass Information Systems showed the freight market is staying “lower for longer” as both shipments and expenditures fell sharply.
Shipments during the month were down 8.9% year over year (y/y) while expenditures were off 24.4%, according to the Monday report. The drop in freight costs also incorporates lower fuel surcharges. Fuel prices were down 27% y/y in the month.
The reading on the July shipments subindex was slightly lower than the January level. Normal seasonal trends have...
https://www.freightwaves.com/news/freight-market-staying-lower-for-longer-cass-says