Truckload pricing dipped another 1.5 percent for the month compared to November 2015, the ninth consecutive month of year-over-year declines, according to the latest Cass Truckload Linehaul Index.
Truckload rates fell another 1.5 percent in November 2016 compared with the previous year, the ninth consecutive month of year-over-year declines, according to the latest Cass Truckload Linehaul Index.
The November 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, 3.5 percent in September, and 1.4 percent in October.
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, “the current strength being reported in spot rates is leading us to believe that [our current -3 percent to 1 percent truckload pricing forecast] may need to be improved/moved to a slightly more positive outlook if the strength in spot rates continues long enough to move contract rates back into positive territory,” analysts at Avondale Partners said.
Truckload rates continue to fall in November
