Took me a minute, I think I know where you're at. You encounter Swanson here, right?
Spoiler below!
The wheel moves it up and down. you can't move it around, only up and down. Then I thin,k it's a lever that pulls the cargo box down. If you tried this, and sure of it, it may be a bug.
its coming to me more. it's almost like a gear shift osrt of thing. Don't touch that until you have raised the cargo up high and that Swanson is directly under it (take note of the shadow)