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Or, possibly, this swan is working just a little too hard to see what food is on the lake floor. I'll let you decide.
And a photo tip for taking pictures of swans: set your camera's meter to the center or spot setting. Swans reflect so much light that any sort of matrix or balanced metering will pretty much always overexpose the swan and burn out huge portions of the bird. This is especially true in direct sunlight.A spot setting with discount the background and consider only the bright feathers themselves.