Truckload linehaul rate index nears 3-year high in February

Freight volumes remained under pressure in February but rates continued to step higher, according to monthly data from Cass Information Systems. Cass’ (NASDAQ: CASS) multimodal shipments index declined 7.2% year over year during the month, but increased 10.4% from January. The index was up 4.3% sequentially on a seasonally adjusted basis. The report said the February increase occurred as the freight market was catching up from prior weather disruptions. If typical seasonal patterns hold, the index is ex ...