YELLOW FREIGHT &lt;YELL> SEES LOWER 1ST QTR NET

  Yellow Freight System Inc said
  its expects 1987 first quarter profits to be substantially
  below the 14.2 mln dlrs or 50 cts a share earned in the same
  period a year ago.
      Revenues have been depressed by recent price discounting,
  added costs from expansion programs, lower shipping volumes and
  increased costs associated with severe weather conditions
  on the East coast, company officials told analysts here.
      An industry-wide rate hike of 2.9 pct, set for April one,
  will cover Yellow Freight's upcoming labor and other costs but
  will not make a contribution to operating margins, it said.
  

