Trucker Yellow’s dismantling is creating a hot market for freight properties. Hundreds of companies have struck confidentiality agreements so they can evaluate the assets that will be sold through a bankruptcy auction, the WSJ Logistics Report’s Paul Berger writes, all of them in line for now behind Old Dominion Freight Line and its $1.5 billion bid for Yellow’s entire terminal network. ODFL is now the stalking horse, or front-runner, in a court-supervised selloff set for Oct. 18. That contest is expected to draw bids from across the trucking industry and the industrial real-estate sector. Regional and national carriers will have a rare opportunity to take on ready-to-operate facilities in a sector in which experts say real estate is a major obstacle to expansion. Experts expect lighter interest in Yellow’s equipment, including 11,700 trucks and 36,000 trailers valued at $900 million, in a freight market already coping with weak demand.

New reports from big retailers suggest that recent strength in consumer spending has its limits. Department-store chain Macy’s and Dick’s Sporting Goods showed weakening sales in their latest quarter and provided tepid forecasts for the rest of the year. The WSJ’s Sarah Nassauer and Suzanne Kapner report the results illustrate the economic challenges that persist among sellers of consumer goods. They also provide a sober assessment for the transport providers looking for inventory replenishment to boost tepid shipping demand across the freight sector. Consumers are still spending but are being choosy as inflation weighs on their budgets. They are buying food and other necessities but are cutting back on some discretionary items while tilting more toward services. That environment favors retailers touting deals, necessities or speedy delivery. Dick’s and other retailers also face another inventory problem as “shrink,” or losses from theft and errors, weigh more heavily on results.

Teamsters union members at United Parcel Service overwhelmingly ratified a new five-year labor contract with the package carrier. (WSJ)

Sales of previously owned homes in the U.S. fell in July to a six-month low. (WSJ)

Annual profit at mining giant BHP fell by more than half on a pullback in commodity prices and a troubling outlook in China. (WSJ)

The U.S. agreed to double the number of passenger flights it allows from China, ramping up belly-cargo capacity on the trade route. (WSJ)

United States Steel and the United Steelworkers union are at odds over the union’s influence as the steelmaker considers acquisition bids. (WSJ)

German chemicals giant BASF signed a long-term import contract with U.S. liquefied natural gas supplier Cheniere Energy. (Reuters)

Russia's Arctic LNG 2 project is on track to go live at the end of this year despite Western sanctions. (Maritime Executive)

Surging shipments of lithium concentrate pushed Australia’s exports to China to a record $102.5 billion in the first half of 2023. (The Strategist)

Japanese machinery maker Kubota plans to commercialize driverless tractors and other farming equipment as early as 2026. (Nikkei Asia)

U.S. barge owner Maritime Partners acquired the Jones Act business and 10 small tankers from Oslo-listed AMSC for $747 million. (Lloyd’s List)

Exports through Hong Kong International Airport jumped 12.6% in July over last year. (Air Cargo News)

Indiana trucker OnLine Transport bought A/T Transportation and its brokerage division. (Transport Dive)

Private-equity firm H.I.G. Capital acquired freight broker Ascent Global Logistics. (Journal of Commerce)

Paul Page is editor of WSJ Logistics Report. Reach him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on X at @WSJLogistics.