I am inclined to agree with JR. Check your thermostat. Of course it will not open up until the engine is warm. The faster the rev's the faster the engine will warm up. You didn't mention what type of engine you have, which is kinda important when figuring out cooling problems. My 5411 doesn't even have a heat exchanger, but when the thermo is closed it wouldn't even exhaust any water out the exhaust until the the thermostat opens up to allow exhaust water to flow to the water muffler. I never liked this & use the valve that directs exhaust flow directly to the exhaust. The other place to check if the problem is not from a clog at the raw water strainer, inlet hose, impeller, etc. is to finally check the exhaust mixing elbow for heavy carbon or rust buildup which can obstruct flow as well. But if your engine has been pumping well until recently, then the problem is likely a clog in the intake line before the engine.