Freight market pressured again in May, Cass data shows

Freight shipments and total freight spend remained under pressure again in May, according to data from Cass Information Systems.

Shipments in May were flat with April but down 5.8% year over year (y/y). The y/y decline was 1.8 percentage points more pronounced than in April, and when adjusting for seasonal trends, the shipments index was off 3.1% sequentially to a 46-month low.

The Monday report noted “ongoing softness in for-hire demand” as loads normally pegged for the for-hire market are being...

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