The proposed coast-to-coast merger of Union Pacific and Norfolk Southern is bad for the industry, a rival CEO warned, and would give the transcontinental behemoth a dominant 50% share of all U.S. rail freight. “We’ve had lots of opportunities to be very clear that we’re opposed to this merger, and we don’t think it’s good for the industry,” said Katie Farmer, chief executive of BNSF Railway. “Make no mistake, this is a consolidation of almost 50% of all the rail volume…to one road. When you consolidate 50% of all rail volume that moves under one carrier, you eliminate, or significantly reduce, flexibility for customers, optionality, and ultimately there’s going to be fewer interchange points. You have one railroad that is looking to optimize their network, and based on what’s happened in the past, that is not always good for customers.”

American Dollar to Canadian Dollar = 0.697509; American Dollar to Chinese Yuan = 0.137981; American Dollar to Euro = 1.083983; American Dollar to Japanese Yen = 0.006712; American Dollar to Mexican Peso = 0.049494.

American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index declined 1.2% in April after decreasing 2.2% in March. In April, the index equaled 111.7 (2015=100) compared with 113.1 in March. “The truck freight market remained soft in April as seasonally adjusted volumes fell for the second straight month,” said American Trucking Associations Chief Economist Bob Costello. “With a rebound in freight remaining elusive, it is likely that additional capacity will leave the industry in the face of continued softness in the market.” March’s decrease was revised down slightly from our April 23 press release. Compared with April 2023, the index fell 1.5%, which was the fourteenth straight year-over-year decline. In March, the index was down 1.3% from a year earlier.