Is one looking for a qualitative or quantitative answer?
Fission products include Te, I and Xe directly, and then Te decays to I which decacy to Xe, and Xe decays to Cs. Xe-135 has a very high absorption cross-section for thermal neutrons. Half-life of I-135 is 6.58 hrs and the half-life of Xe-135 is 9.14 hrs.
When power reactor or any reactor is operating at steady-state, fission products are present in equilibrium concentrations, i.e. the production rate from fission and decay equals the loss due to decay or neutron absorption.
When a power reactor reduces power, the loss of Xe-135 decreases and so it's concentration increases to a greater level before decaying to a new equilibrium concentration.
Can one find an equation for the Xe concentration in ones text. There should be a source (production) term and decay term. The source term would include a term from fission and one from the decay of I-135.