LM    Topics     News

March Cass Freight Index Report trends up for shipments and expenditures

Freight shipments and expenditures, for the month of March, posted annual and sequential gains, according to the new edition of the Cass Freight Index, which was published this week by Cass Information Systems.

Many freight transportation and logistics executives and analysts consider the Cass Freight Index to be the most accurate barometer of freight volumes and market conditions, with many analysts noting that the Cass Freight Index sometimes leads the American Trucking Associations (ATA) tonnage index at turning points, which lends to the value of the Cass Freight Index.

The report’s shipment reading—at 1.196—headed up 10% annually, well outpacing February’s 4.1% annual gain that was impacted by harsh winter weather, and was also up 5.8% compared to February and up 3.4% compared to February on a seasonally-adjusted (SA) basis.

The report’s author Tim Denoyer, ACT Research vice president and senior analyst, observed that the freight volume improvement seen in March is consistent with the report’s optimistic outlook that is supported by inventory levels, consumer trends, and the backlog of freight anchored off of U.S. ports.

“Near-term supply chain risks remain and, following the Suez Canal blockage, could briefly spread beyond the semiconductor shortages that will affect vehicle production at least through Q2 and perhaps considerably longer,” he wrote. “However, if the Cass shipments index just takes a normal seasonal pattern from here, it will be up over 30% [annually] in Q2.”

Expenditures continued to climb in March, rising 27.5%, to 3.379 annually and were also up 7.9% compared to February and were up 6.5% on a SA basis.

This represented the third-highest monthly reading on record, for the third time in four months, with author Denoyer noting the gains came evenly from volume and rates.

“ldquo;Strong momentum continued in freight rate trends with this month nearly off the chart, and we sense an axis adjustment on the way,” he wrote. “ This acceleration suggests Q2 [annual] comparisons will be in the 40%-50% range, compared to the shutdown [a year ago at that time].”

Article Topics

Cass Freight Index
Cass Information Systems
   All topics

Latest in Logistics

UPS makes further investments into driving training-focused efforts
DRAKKAR Logistics’ Three Warehouses Meeting Industry Demand
Yellow accuses Teamsters of ‘gamesmanship and saber rattling’ in proposed One Yellow change of operations talks
U.S. rail carload and intermodal volumes are down, for week ending March 25, reports AAR
NRF’s 2023 retail sales forecast calls for growth mixed with challenges
S&P Global Market Intelligence report looks at normalization of supply chains over course of 2023
RXO officially opens up new Laredo, Texas-based cross-border facility
More Logistics

Subscribe to Logistics Management Magazine

Subscribe today!
Not a subscriber? Sign up today!
Subscribe today. It's FREE.
Find out what the world's most innovative companies are doing to improve productivity in their plants and distribution centers.
Start your FREE subscription today.

March 2023 Logistics Management

March 14, 2023 · We speak with a number of logistics experts to capture their views on the overall impact that e-commerce is having on moving the nation’s freight. One thing is for certain: The current level and speed of churn has irrevocably altered the pattern so many had become accustomed to managing.

Latest Resources

Your Road Guide to Worry-Free Shipping Between the U.S. and Canada
Your Road Guide to Worry-Free Shipping Between the U.S. and Canada
Get expert guidance and best practices to help you navigate the cross-border shipping process with ease. Download our free white paper today!
Warehouse/DC Automation & Technology: It’s “go time” for investment
Warehouse/DC Automation & Technology: It’s “go time” for investment
In our latest Special Digital Issue, Logistics Management has curated several feature stories that neatly encapsulate the rise of automated systems and...

Why accurate, real-time location data is a must for efficient operations
Why accurate, real-time location data is a must for efficient operations
Find out how next-generation workforce management apps use accurate, real-time location data to power successful operations in this webinar with Radar CEO...
Should you lease or buy your lift truck fleet?
Should you lease or buy your lift truck fleet?
Leasing critical equipment like lift trucks can offer flexibility, but some lease terms can be complex and costly if you’re not...
2023 State of the Third-Party Logistics (3PL) Industry Report
2023 State of the Third-Party Logistics (3PL) Industry Report
In this year’s Third-Party Logistics State of the Industry Report, you’ll learn about our top trends for the year and...