Rates red-hot in August, shipments high but capacity constrained

August data from Cass Information Systems shows a sequential surge in expenditures, a proxy for freight rates, with shipments stepping higher as well. The year-over-year comparisons for both subindexes were materially higher again.

Freight rates up and to the right

The expenditures component of the Cass Freight Index (NASDAQ: CASS) jumped 11.3% from July on a seasonally adjusted basis, 42.2% higher year-over-year. Roughly 90% of the increase in the index was tied to higher freight rates. Compared to two years ago, the index is up almost 35%.

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