{"id":878,"date":"2023-07-13T07:01:43","date_gmt":"2023-07-13T07:01:43","guid":{"rendered":"https:\/\/ladingcargo.com\/blog\/?p=878"},"modified":"2024-10-18T12:25:58","modified_gmt":"2024-10-18T12:25:58","slug":"freight-market-bottom-may-be-near-monthly-cass-report-suggests","status":"publish","type":"post","link":"https:\/\/ladingcargo.com\/blog\/freight-market-bottom-may-be-near-monthly-cass-report-suggests\/","title":{"rendered":"Freight Market Bottom May Be Near, Monthly Cass Report Suggests"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The most important question in the freight market is when we will reach the bottom. The Cass Freight Index data indicated a worsening trend, but there was optimism for improvement.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u00a0<\/span><span style=\"font-weight: 400\">The monthly report&#8217;s theme is &#8220;Bouncing Along the Bottom.&#8221; Tim Denoyer of ACT Research said, &#8220;The volume downturn appears to be in the later innings,&#8221; indicating a potential new cycle for the U.S. freight transportation sector.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Denoyer, on the other hand, called the current time in the freight business a &#8220;cycle bottoming.&#8221; In the image that goes with the report, you can see that this cycle has a number of features, such as extra capacity, price pressure for the shipper, a lack of Class 8 tractors, a slower drop in rates, and a rise in rejected orders. The &#8220;wheel&#8221; for cycle bottoming focuses mainly on the signs of &#8220;demand declines and capacity growth slowing.&#8221;<\/span><\/p>\n<h2><span style=\"font-weight: 400\"><img decoding=\"async\" class=\"aligncenter wp-image-879 size-full\" src=\"https:\/\/ladingcargo.com\/blog\/wp-content\/uploads\/2023\/07\/unnamed-1.png\" alt=\"Classic Truckload Cycle\" width=\"512\" height=\"399\" srcset=\"https:\/\/ladingcargo.com\/blog\/wp-content\/uploads\/2023\/07\/unnamed-1.png 512w, https:\/\/ladingcargo.com\/blog\/wp-content\/uploads\/2023\/07\/unnamed-1-300x234.png 300w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/span><\/h2>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/ladingcargo.com\/blog\/freight-market-bottom-may-be-near-monthly-cass-report-suggests\/#Cass_Freight_Index_Shows_Continued_Decline_in_Shipments_and_Prolonged_Downcycle_in_Freight_Market\" >Cass Freight Index Shows Continued Decline in Shipments and Prolonged Downcycle in Freight Market<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/ladingcargo.com\/blog\/freight-market-bottom-may-be-near-monthly-cass-report-suggests\/#The_Cass_Freight_Index_Shows_a_decline_in_Spending_and_rates_but_Optimism_for_Future_shipping\" >The Cass Freight Index Shows a decline in Spending and rates but Optimism for Future shipping.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/ladingcargo.com\/blog\/freight-market-bottom-may-be-near-monthly-cass-report-suggests\/#The_Cass_Truckload_Linehaul_Index_Shows_a_continued_decline_in_Fuel_Spending_and_the_truckload_market\" >The Cass Truckload Linehaul Index Shows a continued decline in Fuel Spending and the truckload market.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/ladingcargo.com\/blog\/freight-market-bottom-may-be-near-monthly-cass-report-suggests\/#Final_Wording\" >Final Wording<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Cass_Freight_Index_Shows_Continued_Decline_in_Shipments_and_Prolonged_Downcycle_in_Freight_Market\"><\/span><strong>Cass Freight Index Shows Continued Decline in Shipments and Prolonged Downcycle in Freight Market<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400\">Denoyer stated that the current market is missing one aspect of cycle bottoming, which is the lower level of equipment production. He writes that pressure remains on fleets to seat these tractors as Class 8 build rates remain elevated.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u00a0<\/span><span style=\"font-weight: 400\">Shipments in the Cass Freight Index decreased by 1.6% from May to June, or 1.9% after adjusting for seasonality.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u00a0<\/span><span style=\"font-weight: 400\">The measure decreased by 4.7% compared to last year. The yearly rate of change in June was slower than in May, at 5.6%. The shipping index is 12% lower than in December 2021, when the cycle peaked, according to Cass.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u00a0<\/span><span style=\"font-weight: 400\">The study shows that the current &#8220;downcycle&#8221; has lasted for 18 months, marking a continuous decline over the years. Cass mentioned that the average length of the last three recessions was 21 to 28 months.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_Cass_Freight_Index_Shows_a_decline_in_Spending_and_rates_but_Optimism_for_Future_shipping\"><\/span><strong>The Cass Freight Index Shows a decline in Spending and rates but Optimism for Future shipping.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">According to Denoyer, there is optimism regarding shipments. The reason for this optimism is that although declining real retail sales trends and ongoing stocking are still affecting freight volumes, there is a shift in dynamics due to the improvement in real incomes, and the worst of the destocking is now behind us.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u00a0<\/span><span style=\"font-weight: 400\">The Cass Index spending fell 2.6% from May to June, and it fell 24.5% from June 2016 to June 2017.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u00a0<\/span><span style=\"font-weight: 400\">Cass discovered a 1% decrease in interest rates from May to June due to declining exports and spending.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u00a0<\/span><span style=\"font-weight: 400\">Shipments dropped 1.9% from May, and prices dropped 0.8%. This caused the spending index to drop by 2.8%.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_Cass_Truckload_Linehaul_Index_Shows_a_continued_decline_in_Fuel_Spending_and_the_truckload_market\"><\/span><span style=\"font-weight: 400\">The Cass Truckload Linehaul Index Shows a continued decline in Fuel Spending and the truckload market.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">Fuel spending is included in the score. The Cass Truckload Linehaul Index decreased by 0.4% from May to June. It should be less random without gas costs. The drop is smaller than the drop of 2.6% between April and May.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u00a0<\/span><span style=\"font-weight: 400\">Cass says the average loss in the last two months is 1.5%, which is almost twice as much as the average loss in the six months before at 0.8%. The drop hasn&#8217;t slowed down in the last two months.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u00a0<\/span><span style=\"font-weight: 400\">Cass writes in the report that this index includes both spot and contract freight, serving as a broad truckload market indicator. The larger contract market is expected to continue adjusting down, given the significant decrease in spot rates.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u00a0<\/span><span style=\"font-weight: 400\">Sales dropped by 4.7%, and other Cass indicators also decreased significantly year over year. The spending index, estimated freight rates, and truckload linehaul index are all down.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The third-quarter bounce of 6.6% would compensate for the drop in the second quarter of 2017 and this year. Tom Nightingale, CEO of AFS, mentioned that truckload prices are stabilizing, but shippers still have an advantage in the market.<\/span><\/p>\n<article id=\"post-875\" class=\"flex-box single-post card has-post-share has-meta-after-title has-meta-before-title disabled-post-video cover post-875 post type-post status-publish format-standard has-post-thumbnail hentry category-news\">\n<div class=\"single-content-wrapper\">\n<div class=\"entry-content\">\n<p>The ultimate guide to\u00a0<strong><a href=\"https:\/\/ladingcargo.com\/blog\/what-are-the-best-dry-van-dispatch-services-in-the-usa\/\">book dry van<\/a><\/strong> dispatch services!<\/p>\n<\/div>\n<\/div>\n<\/article>\n<h3><span class=\"ez-toc-section\" id=\"Final_Wording\"><\/span><strong>Final Wording<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">Overall, the Cass study suggests potential benefits for the transport industry. The market is about to start a new cycle, and the current drop is almost over. To know more about trucking and logistics industry daily, check<a href=\"https:\/\/ladingcargo.com\/\"> Lading Logistics<\/a>. We also provide all kind of logistics solutions to businesses.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The most important question in the freight market is when we will reach the bottom. The Cass Freight Index data indicated a worsening trend, but there was optimism for improvement&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":880,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[131],"tags":[],"class_list":["post-878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Freight Market Bottom May Be Near Monthly Cass Report Suggests<\/title>\n<meta name=\"description\" content=\"Cass Freight Index data indicates market bottoming, with volume downturn and new cycle in US freight transportation industry\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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