The US land freight market is picking up. According to the Cass Transportation Index Report from September 14, 2026, the Cass Truckload Linehaul Index rose to 153.9 points in August. That is 11.3 percent higher than the same month of the previous year and 0.7 percent higher than July. According to FreightWaves, it is the 20th consecutive year-over-year increase and the strongest since June 2022.
Even more remarkable is the volume side. The number of shipments in the Cass Freight Index in August was 2.1 percent above the prior year – the first year-over-year increase since January 2023. This ends a 42-month downturn on this metric, the longest in Cass's data series according to the company. Compared to July, shipments increased by 5.6 percent, or 5.0 percent on a seasonally adjusted basis. However, compared to two years ago, they remain 7.4 percent lower.
Freight spending, which is volume multiplied by price, rose 18.7 percent year-over-year and 5.8 percent compared to July. Fuel contributed to this as well: according to FreightWaves, diesel prices in August were 46 percent above the prior year and 10 percent above the previous month.
The linehaul index represents the entire commercial truckload market, combining spot and contract rates. According to Tim Denoyer of ACT Research, who authored the Cass report, spot rates are declining slightly, but the significantly larger contract market is adjusting upward. New regulations and liability rules for freight brokers have raised barriers to market entry and limited capacity expansion. At the same time, Class 8 truck tractor sales in July and August exceeded replacement demand; the fleet can thus grow for the first time after 18 months of contraction.
Cass is cautiously optimistic for the coming months. With rising ocean freight volumes and the beginning of IEEPA tariff refunds, inventory building is gaining momentum. "The bottom has likely been reached. While it will probably remain moderate, freight growth should continue," Denoyer writes. However, risks remain high according to the report, particularly due to oil prices, inflation, and interest rates.
For context: Cass processes approximately $37 billion in freight invoices annually. Truckload shipments account for more than half of the tracked shipments, less-than-truckload (LTL) approximately one quarter. The index measures domestic transport in North America.