Truckload pricing slipped another 0.8 percent for the month compared to February 2016, the 12th consecutive month of year-over-year declines, according to the latest Cass Truckload Linehaul Index.
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Truckload rates fell 0.8 percent year-over-year in February 2017, according to the latest Cass Truckload Linehaul Index.
Truckload rates fell another 0.8 percent in February 2017 compared with the previous year, the 12th consecutive month of year-over-year declines, according to the latest Cass Truckload Linehaul Index.
The February decrease followed pricing declines of 0.6 percent in March 2016, 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, 3.5 percent in September, 1.4 percent in October, 1.5 percent in November, 0.9 percent in December, and 0.3 percent in January 2017.
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.
Despite this negative trend, analysts at investment firm Avondale Partners increased their pricing forecast to a -1 percent to 2 percent year-over-year growth rate for 2017.
“The current strength being reported in spot rates…is leading us to believe contract pricing rates should move back into positive territory at least on a sequential basis,” the firm said.