losing fat, losing estrogen?

I have researched estrogen quite a bit and from what I understand fat releases some estrogen. So does this mean that when I am building muscle mass and trimming the fat, that I am actually losing some of my natural estrogen? When I burn this fat does the estrogen that the fat has stored release into the blood stream? How should I adjust my hormones for this?
I am almost 3 years post op and am on climara 0.1 weekly, I just started curves about 1 1/2 months ago, and have lost 21 inches but gained a pound and I am wondering if I need to adjust my hormones again to shed some of the water weight.

If you have lost 21 inches, you are doing very well, regardless of the pound gain. That may be muscle.