Truckload pricing dipped another 1.4 percent for the month compared to October 2015, the eighth consecutive month of year-over-year declines, according to the latest Cass Truckload Linehaul Index.
Truckload rates fell another 1.4 percent in October 2016 compared with the previous year, the eighth consecutive month of year-over-year declines, according to the latest Cass Truckload Linehaul Index.
The October decrease followed pricing declines of 0.6 percent in March, 2.3 percent in April, 1.2 percent in May,1.8 percent in June, 1.6 percent in July, 2.8 percent in August, and 3.5 percent in September.
Although the negative growth in March was the first since May 2010, pricing growth had steadily contracted over the previous 12 months, from 5.1 percent year-over-year growth in March 2015 to 3.8 percent in April, 3.5 percent in May, 3.6 percent in June and July, 3.7 percent in August, 3.2 percent in September, 1.9 percent in October, 1.6 percent in November, 1.1 percent in December, 0.4 percent in January and 0.5 percent in February.
“With eight consecutive months of price declines, the domestic truckload market continues to face softer demand and excess capacity,” analysts at Avondale Partners said. “Driver pay increases, overall fleet growth, reduction in carrier bankruptcies and an easing of the 34-hour restart rule are some of the contributing factors.”
Truckload rate decline extends into eighth straight month in October
