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June 17, 2014 1:00 PM, EDT
Cass Reports 5.8% Truckload Cost Increase in May
Larry Smith/Trans Pixs

The truckload cost index published by Cass Information Systems showed a 5.8% increase last month, continuing the overall pace of increases.

The announcement by Cass, which also publishes freight index reports, followed increased costs of 5.7% in April and 6% in March.

“With demand improving and capacity exiting the marketplace at a faster pace, the 2014 bid season (~70% of all contracts are negotiated in the first 4 months) has resulted in higher truckload costs for the shipper.”

Expenses fell 2.2% in May from April, similar to the historical sequential average after above-normal gains on that basis in the past five months.

The report also said intermodal costs rose 2.6% in May.