Rail and Intermodal Volumes for the Week Ending September 12

U.S. freight railroads moved 223,565 carloads in the week ending September 12, down 3.3% from the same week a year earlier, according to the Association of American Railroads. Intermodal containers and trailers totaled 271,305 units, a 4.1% annual decline.

The weekly totals also trailed the previous two reporting weeks: carloads came in below the 234,397 recorded in the week ending September 5 and 240,021 in the week ending August 29. Intermodal volume was likewise softer than the 299,148 units and 303,191 units moved in those two prior weeks.

Three of 10 carload commodity groups tracked by AAR posted annual gains, led by grain, which rose 3,461 carloads to 23,507. Petroleum and petroleum products rose 663 carloads to 10,901, and forest products added 174 carloads to 8,342. The largest declines came from motor vehicles and parts, down 3,313 carloads to 14,295; chemicals, down 3,195 carloads to 31,714; and coal, down 2,229 carloads to 58,408.

Despite the softer week, the first 36 weeks of 2026 remain positive: U.S. carloads are up 2.7% annually at 8,209,888 units, and intermodal units are up 4.0% at 10,175,630.

The Commodity and Intermodal Detail Behind the Weekly Decline

What the report does and doesn't say. Weekly rail data is volatile, and the annual comparison for the week ending September 12 appears weaker than the two previous weeks because those weeks had stronger volumes. The year-to-date figures are the more stable signal: over 36 weeks, carloads and intermodal units are both growing.

Grain and petroleum gain as auto, chemical and coal loads lag

The commodity detail shows gains concentrated in grain, petroleum products and forest products. The 3,461-carload increase in grain is consistent with harvest and export-related movement, though the AAR data does not specify the driver. The petroleum increase was smaller but still positive. In contrast, motor vehicles and parts posted the largest decline, falling 3,313 carloads, which indicates softer rail-based auto distribution in that week. Chemicals and coal, two heavy-volume segments, also fell.

Intermodal cools from its late-summer level

Intermodal volume of 271,305 units is down both annually and against the 299,148 and 303,191 units reported in the two prior weeks. That sequential drop can reflect normal early-September softness after end-of-month shipping, but the 4.1% annual decline is the first caution sign for a segment that is otherwise up 4.0% year-to-date.

What the 36-week trend suggests

Because carloads are up 2.7% and intermodal up 4.0% through 36 weeks, the weekly declines are not yet a reversal. They show a softer start to the second half of September, not a breakdown in freight demand. The mixed commodity picture — gains in grain and petroleum alongside losses in motor vehicles, chemicals and coal — points to uneven demand across rail's customer base rather than a broad freight downturn.