Panting
We exercise and play with Mia everyday, three times a day at a minimum. Sometimes it's very strenuous running in our fields and chasing balls and frisbees. I have yet to ever see her pant. Is this normal?
Sofia rarely pants even when excersing. We always take water with us on our runs and keep her hydrated, but when she's panting, I know she's really warm.
Only really heard Q pant from the heat, its really warming up now...he only wants to be in the shade :)
Summer, Dakota will pant... now that it's cold, lol... I have to tire her out before we go play with other dogs, she will literally tire the other dogs until they lay down and can't take it anymore, then we go outside, she runs about a billion laps around the house at full speed, then we go back inside and she can't figure out why the other dogs are still laying down. Summer time, it's a totally different story.
Breathing hard is not the same as panting...if you look at your dog after running around a lot you'll see his ribs moving with deep breaths. However, Rocky will only pant (tongue handing out type pant) when he's hot...mainly in the warmer weather.
We live within the tropics where it's really warm. Koda breaths hard and this is quite normal for him. Panting and dribbling after his exercise is also quite normal for him. However, we swim quite regularly. I try do this as much as possible. I have been told that swimming drains a lot of excess energy. Koda will swim for an hour. I stand in the water with my kids and throw frisbee to each other allowing Koda to give chase. He gets pounded by waves when there are waves and he just continues to swim and by that I mean his paws don't touch the ground for the entire swim! When we get out I am always amazed that he does not show a hint of being tired. He does not pant. It sometimes makes me wonder if running is more tiring for him. I think the coolness of the water contributes to this.
FYI, I have noticed that after a good solid 15-20 minute run, Koda's energy is quick to return. After an hours swim, though not panting, his energy does seemed drained and he tends to have a healthy appetite soon after the swim afterwhich he lies around for most of the day. Doing both, he's lights out!

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She is probably in pretty good shape! Also, dogs will pant a lot more in warm weather as it is their cooling system. My dogs don't do much panting in the winter.