According to data in July’s Cass Freight report, U.S. freight rates increased 28% year over year, but declined by almost 2% month over month in July, signaling the U.S. market’s freight rates may have reached their peak.
Despite the downward trend, demand remains higher than it was at pre-pandemic levels. Tim Denoyer, author of the Cass report, said he expects that U.S. logistics companies, especially trucking companies, will continue to see strong pricing power.