For the week ending June 27, total Class 1 railroad volumes declined 21.3% Y/Y, a reversal of some of the improvements made over the past couple of weeks. Volumes were down 18.3% Y/Y the prior week.
Contributing the most towards this further contraction was Grain,
which was down 21.6% Y/Y this past week, versus down only 2.7% Y/Y the week prior. Crushed Stone, Sand & Gravel, was also down further at -34.1% Y/Y this past week, compared to down 23.2% Y/Y the previous
week. All but three categories were worse this past week, with the
exceptions (Metallic Ores, Lumber & Wood Product, and Metals &
Products) only improving very modestly.
RBC Capital Markets
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