Hi Thealanator,
That's not generally done, at least on the pumps I've seen which are up to a few hundred GPM. And I doubt it's done on much larger machines. The problem is you're adding energy to the fluid by pumping it and there's no way to remove it. For a cryogenic fluid, the added heat you get by pumping and recirculating it will tend to boil the liquid fairly quickly, and there's no place to reject the added heat. For ambient temperature machines where the fluid is water or similar liquid for example, the water can get a bit warm and either ambient cooling will keep it from boiling or it can be circulated through a heat exchanger to cool it back down. So in general, cryogenic fluids can't be recirculated around pumps. Valves on the pump discharge are installed though as these can be used to throttle the fluid flow. By backpressuring the pump, the flow can be reduced considerably.