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Cass: TL charges bounce 11% in August, freight shipments flip optimistic

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Cass: TL charges bounce 11% in August, freight shipments flip optimistic

Truckload linehaul charges surged once more in August whereas cargo counts turned optimistic for the primary time in three and a half years, in keeping with knowledge from Cass Data Techniques.

Cass’ TL linehaul index, which tracks charges excluding gasoline and accessorial surcharges, jumped 11.3% yr over yr in the course of the month. The index was up 70 foundation factors from July. August marked 20 consecutive y/y will increase and the biggest since June 2022.

The linehaul index contains for-hire spot charges however is traditionally closely weighted to contract charges.

“The sequential enhance is in step with expectations and as indicated by the spot market,” the Monday report mentioned. “Whilst spot charges sluggish with modest sequential declines, the a lot bigger contract market is adjusting increased.”

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SONAR: Van Contract Charge Per Mile Index (VCRPM1.USA) for 2026 (blue shaded space), 2025 (yellow line), 2024 (inexperienced line) and 2023 (pink line). The index exhibits a 7-day transferring common of the preliminary reporting of dry van contract charges with out gasoline or accessorial prices. To study extra about SONAR, click on right here.
SONAR: Nationwide Truckload Index (linehaul solely – NTIL.USA) for 2026 (blue shaded space), 2025 (yellow line), 2024 (inexperienced line) and 2023 (pink line). The NTIL relies on a mean of booked spot dry van hundreds from 250,000 lanes. The NTIL is a seven-day transferring common of linehaul spot charges excluding gasoline. Charges stay considerably increased on a y/y comparability in September.

Freight shipments recorded by Cass (NASDAQ: CASS) elevated 2.1% y/y, which was the primary y/y enhance after 42 months of declines. Shipments had been 5.6% increased sequentially in August (up 5% seasonally adjusted).

All home transportation modes are included within the index, however TL accounts for over 50% of shipments, with less-than-truckload representing roughly 25%. Highway-to-rail conversion has weighed on the trucking-centric dataset in current months as gasoline costs have surged.

If regular seasonal transport patterns maintain by way of September, the index would enhance roughly 1% y/y, the report mentioned.

August 2026
y/y
2-year
m/m
m/m (SA)
Shipments2.1%-7.4%5.6%5.0%
Expenditures18.7%18.3%5.8%6.0%
TL Linehaul Index11.3%12.6%0.7%NM
Desk: Cass Data Techniques (SA – seasonally adjusted)

Cass’ expenditures index, which measures complete freight spend together with gasoline, surged 18.7% y/y in August and was up 5.8% from July (plus-6% seasonally adjusted). The optimistic y/y inflection in shipments drove the dataset increased, together with increased diesel costs (up 46% y/y and 10% sequentially).

Citing elevated dangers to shopper spending, the report requires tepid freight demand transferring ahead.

“With financial progress sturdy even amid a mushy job market, and a restock probably starting with ocean volumes rising and tariff refunds taking place, the underside might be in,” the report mentioned. “Whereas probably modest, freight progress ought to proceed.”

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Information used within the indexes comes from freight payments paid by Cass, a supplier of cost administration options. Cass processes $37 billion in freight payables yearly on behalf of shoppers.

Why it issues? August knowledge from Cass Data Techniques highlights a continued escalation in TL contract charges at the same time as demand stays cool. The dataset confirms the influence strict regulatory enforcement is having on non-compliant capability.

Extra BigRig articles by Todd Maiden:

  • Hub Group warns of Nasdaq delisting discover; flags H1 working loss
  • ArcBest sees tonnage progress speed up in August; raises Q3 asset-light information
  • XPO’s August metrics align with Q3 steerage

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