William B. Cassidy | Jul 12, 2011 4:47PM EDT
A key measure of truckload capacity eased last week, after tightening for several weeks.
The Longbow Research Truckload Barometer dropped 16.5 percent from the prior week, leaving the index 1.2 percent lower than its level a year ago.
The decline follows several weeks of steady increase, indicating tightening capacity, in May and June.
The equity research firm attributed the drop to a seasonally slower shipping season at the start of July.
The weekly index measures available freight against available truckload equipment, climbing higher as capacity contracts, the Wall Street investment firm said.
The year-to-date average reading for the index is still 52 percent higher than a year ago, Longbow said, as demand picked up earlier this year than in 2010.
Longbow’s regional data suggests truckload capacity is tightening in the Southwest, Mountain States and West Coast as the produce season takes shape.
Contact William B. Cassidy at wcassidy@joc.com. Follow him on Twitter at @wbcassidy_joc