You can think of it in terms of rates of things.
Currently, your body has a rate of producing the components of blood, and a rate of breaking down and expelling the remainder.
When the amount of blood in your system is less than the usual, the rate of removal will automatically go down (less blood to clean = less waste products = less removal), but your rate of blood production does not take a hit, so, for those brief periods, your body will produce more blood than it will retire.
Note: not a biologist, so there may be more complex biology at work too, but even if your body chooses to do nothing, you will end up producing more blood because of how dynamic equilibria work.
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