Rail Market Update - Week ending January 9, 2026 Artwork

FTR | State of Freight

State of Freight is a series of industry resources from FTR, the leader in market intelligence and forecasting for the North American freight transportation industry. FTR podcasts provide updates for the Trucking and Rail markets, as well as the broader economy. Each podcast includes a slide deck of graphs that can be used in presentations or for internal analysis. For show downloads and to signup for more State of Freight content, go to www.FTRintel.com/podcast.

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FTR | State of Freight

Rail Market Update - Week ending January 9, 2026

January 09, 2026 • FTR | Joseph Towers • Episode 260

In this episode Joseph Towers opens the year with a comprehensive review of full-year 2025 rail traffic, highlighting modest overall growth driven by grains and coal, continued softness in industrial commodities such as metals and forest products, and a largely flat outlook for motor vehicles heading into 2026. He then walks through the latest procedural developments surrounding the proposed Union Pacific–Norfolk Southern merger, outlining what remains in the Surface Transportation Board review process and the likely timeline for a decision. The episode closes with an overview of the STB’s new proposal to eliminate Part 1144, a move aimed at easing access to reciprocal switching and increasing rail competition, setting up key regulatory and market themes to watch as 2026 unfolds.

The Rail Market Update is hosted by FTR’s Senior Analyst, Rail, Joseph Towers. As this information is presented, you are welcome to follow along and look at the graphs and indicators yourself by downloading the PDF of the presentation.

Download the PDF: https://www.ftrintel.com/rail-podcast

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