Rearing fish at high densities is considered stressful. For many species this leads to poor feed conversion,
decreased feed intake and reduced growth, possibly caused by a change in energy partitioning or expenditure. To
test this theory, we examined how rearing density and water current affected the respiratory physiology during
rest and exercise in rainbow trout. Trout were also subjected to acute stress to examine whether rearing
conditions affected the haematological response. Fish were acclimated at low (L) 25 kgm−3 and high (H)
100 kgm−3 densities, in either still water (O) at b5 cms−1 or in a water current (C) at a speed of
0.9 bodylength s−1, in 600 liter circular tanks for a period of 63 days. As recirculation aquaculture facilities aimto
reduce water use, this is frequently associated with increasing water temperatures, particularly during summer
months. For this reason experiments were performed at 19 °C. Water flow rate to each tank was maintained at
60 l min−1, to eliminate water quality and feed availability as influencing parameters. Standard metabolic rate of
fish reared in a current was significantly lower (118.4±2.7 mg O2 kg−1 h−1) than for those reared in still water
(133.4±3.7 mg O2 kg−1 h−1) with no effect of density. The absence of any effects of density on standard
metabolic rate showed that rearing at high densities in still water did not affect energy required for maintenance
in inactive, post-absorptive rainbow trout. Swimming at high speeds incurred a greater cost of transport when
reared in a current. The haematological profile of fishes at rest was not affected by rearing conditions, suggesting
that changes inmetabolismare not related to the oxygen carrying capacity of the blood, and all treatment groups
showed a haematological response to stress of similar magnitude. The absence of any effects of rearing density on
the respiratory physiology in the present study emphasises the importance ofwater quality and food availability
in farming of rainbow trout.