Truckload Rates Climb Despite Falling Volumes

Truckload rates in the United States have continued to climb even as freight volumes have declined, according to the latest data from the Cass Freight Index. The Cass Freight Index, which measures North American freight shipment volumes and expenditures, showed that truckload (TL) rates advanced again in January 2026 despite a drop in overall freight volumes. This suggests that carriers have been able to maintain pricing power despite softer demand. 'The TL rate environment remains strong, with rates up again in January despite volumes declining,' said Tim Denoyer, vice president and senior analyst at freight forecaster ACT Research, in comments reported by FreightWaves. 'This speaks to the ongoing capacity constraints in the truckload market.' The Cass data indicates that the TL rate environment has remained robust even as the broader freight market has softened. This dynamic underscores the continued supply chain challenges and capacity constraints that have plagued the transportation sector in recent months. Analysts say the ability of carriers to raise rates in the face of falling volumes reflects the ongoing imbalance between supply and demand in the truckload market. Tight capacity, driver shortages, and other operational headwinds have given trucking companies more leverage to push through rate increases. 'The TL rate environment remains strong, with rates up again in January despite volumes declining,' said Denoyer. 'This speaks to the ongoing capacity constraints in the truckload market.' The Cass Freight Index report provides a closely watched barometer of freight market conditions in North America. The latest data suggests that while the overall freight environment may be softening, the truckload segment continues to see pricing power in its favor.