This is something common that Dogs do. It's kind of the same reason that they chase their tail or bury bones in the yard. It's just kind of what they do. It's called "shedding". My dog, Riley actually is so annoying with his shedding I actually had to put him outside most of the day. I would recommend brushing him a lot everyday or whenever you can do prevent this "shedding". Hope that helps!
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Is the dog sheding more than usual, could it be sheding its summer or winter coat? I don't know what area you are in. or is it coming out in spots? this could be due to an allergy or maybe canine cushings http://www.caninecushings.net/forums/ Look at bottom of this post, see the related links? Click on that it'll take you there
There could be many reasons, but only a vet can tell you, having examined your dog.