The Two Materials That Predict Freight Demand Both Just Posted Gains. Here Is What February’s Data Is Telling Us.

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• Every load of goods that moves through the U.S. freight system sits on a wooden pallet

  60% confidence

• The pallet PPI shows one of the cleanest pictures of the freight cycle you will find anywhere in government data

  60% confidence

• When businesses are shipping a lot of goods, they go through a lot of pallets. When they are not shipping much, pallet demand drops off and pallet prices fall

  60% confidence

• Pallet prices climbed steadily from late 1980s to 2020, reflecting slow and consistent growth in goods movement year over year, with the index starting at roughly 80 in the 1970s and reaching around 200 by 2021

  60% confidence

• The materials that become the boxes and pallets your freight rides on get made and shipped before the freight itself ever moves, which means the people buying those materials right now are telling you, in advance, how much freight is coming

  60% confidence

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