Truckload linehaul rates fell again in July from the same time a year ago, marking the fifth straight month of year-over-year declines, according to latest readings from the Cass Truckload Linehaul Index.

The drop of 1.6% puts the measure at 122.5, but that is up 1.1% from June and is at its highest level since April.

Analysts at the investment firm Avondale Partners predict that pricing will remain down as much as 3% year-over-year for the remainder of 2016.

“Several factors continue to contribute to increased capacity, including driver pay increases; newer, more reliable trucks; overall fleet growth and an easing of the 34-hour restart rule,” the report said.

The index is an indicator of market fluctuations in per-mile truckload pricing, isolating the linehaul component of full truckload costs from other components, such as fuel and accessorials, providing a look at trends in baseline truckload prices.

Meantime, intermodal pricing fell 2.4% year-over-year in July, representing 19 straight months of declines.

Despite the drop in the Cass Intermodal Price Index the reading of 123.5 is 2% better when July is compared to June, following three straight month-over-month falloffs.

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