The recovery in rail traffic continued this week as rail freight posted substantial climbs across the board. Via the AAR:
The Association of American Railroads today reported that for the week ended June 12, 2010, U.S. freight railroads continue to post traffic gains over 2009 levels. U.S. railroads originated 288,973 carloads last week, up 10.5 percent from the comparable week in 2009. However, carloads were still down 10.3 percent from the same week in 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.Carload volume on Eastern railroads was up 12.6 percent from last year, but down 14.9 percent from 2008. In the West, carload volume was up 9.1 percent from last year but down 6.9 percent from two years ago.
Intermodal traffic totaled 223,075 trailers and containers, up 17.7 percent from last year but down 2.3 percent from 2008. Compared with the same week in 2009, container volume increased 20.1 percent while trailer volume rose 5.9 percent. Compared with the same week in 2008, container volume was rose 6.2 percent while trailer volume fell 33.3 percent.
Sixteen of 19 carload commodity groups were up from last year, led by an 88.9 percent jump in metals. Other notable increases were seen in metallic ores, 57 percent; coke, 49.2 percent; motor vehicles and equipment, 36.5 percent; and waste and scrap materials, 32.4 percent. Groups posting decreases included pulp, paper and allied products, down 7.5 percent; farm products, down 5.1 percent; and grain mill products, down .7 percent.
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.