Freight traffic posted big year over year gains for the week ending March 13th. According to the AAR railroads posted their third consecutive week of gains:
“U.S. railroads originated 287,837 carloads during the week, up 3.2 percent from the comparable week in 2009, but down 12 percent from 2008. In order to offer a complete picture of the progress in rail traffic, AAR now reports 2010 weekly rail traffic with comparison weeks in both 2009 and 2008.
Intermodal traffic totaled 203,626 trailers and containers, up 15.1 percent from last year but down 5.9 percent compared with 2008. Compared with the same week in 2009, container volume increased 19.4 percent and trailer volume dipped 3.8 percent. Compared with the same week in 2008, container volume was up 3.4 percent while trailer volume fell 37 percent.”
Breadth of the data was fairly strong as 13 of the 19 commodity groups posted gains. The largest gainers were metals, grain, lumber and chemicals. Coal loadings were down 5.1%.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.