Truckload rates reach record high in December

Domestic truckload pricing jumped 6.2 percent for the month compared to December 2016, the ninth consecutive month of year-over-year gains, according the latest Cass Truckload Linehaul Index.    Domestic U.S. truckload (TL) rates increased 6.2 percent in December 2017 compared to the previous year, the ninth consecutive month of year-over-year gains, according to the latest Cass Truckload Linehaul Index.
   Transportation intelligence analyst Cass Information Systems Inc. said the index, which has been tracking TL pricing since 2005, reached a record high of 134.5 for December.
   The TL Linehaul index had fallen for 13 straight months (from March 2016 through March 2017) prior to the recent growth, but Cass said there are no signs that momentum is slowing.
   “In just the last six months, our pricing forecast has increased from a -1% to 2% change, to 6% to 8%, and now gives us reason to believe the risk to our estimate may be to the upside,” said Donald Broughton, an economist that analyzes the TL index and the North American freight transportation industry at large for Cass. “The current strength being reported in spot rates is leading us to believe contract pricing rates should keep YoY rate comparisons in positive territory well into 2018.”