Freight Market to Stay Lower for Longer
July data from Cass Information Systems showed the freight market is staying “lower for longer” as both shipments and expenditures fell sharply. Shipments during the month were down 8.9% year over year (y/y) while expenditures were off 24.4%. The drop in freight costs also incorporates lower fuel surcharges. Fuel prices were down 27% y/y in the month. Read what’s happening here.