Peak Freight Rates As US Keeps On Trucking?

US freight rates increased 28% y/y during July, but declined almost 2% m/m. That's according to the July Cass Freight report We expect that August's report, out in mid-September, will confirm that freight rates have peaked just as peak shipping season encompassing both back-to-school and the holidays begins.

“We’re coming into this peak season with much more free capacity. I think that’s going to be a good thing from a cost perspective for those big retailers who have been struggling with a lot of cost inflation,” Tim Denoyer, the reports author, told CNBC.