Elevations of T3 & T4 can be achieved by immersion in hormone supplemented water. Elevated circulating T3 & T4 rapidly inhibit the pituitary expression of TSH subunits. Elevated T3 & T4 also rapidly inhibit the pituitary expression of deiodinase 3. Results consistent with TH negative feedback controlling daily TSH cycles in red drum. Regulation of pituitary deiodinase 3 may play an important role in negative feedback.