Taking the pulse of railroad freight

Intermodal shipments fell 0.7% at 2,474,208 carloads as of March 7, according to the latest data from the Association of American Railroads. For non-intermodal freight, year-to-date volume ran 5.5% ahead of 2025’s pace.

The shipment data on primary metals ex Canada is not validating what people are saying about higher exports yet. This is a crucial data set to watch over the next quarter to see if Canada is responding the opportunity to increase market share while the Persian Gulf region is suffering.