Final answer:
During the secretory phase of the menstrual cycle, progesterone levels are at their highest, produced by the corpus luteum to prepare the endometrium for potential implantation.
Step-by-step explanation:
During the secretory phase of the menstrual cycle, progesterone levels are at their highest due to the activity of the corpus luteum, which is formed from the luteinization of the granulosa cells of the ruptured Graafian follicle. The corpus luteum produces progesterone to prepare the endometrium for potential pregnancy and to maintain the uterine lining, should implantation occur. Following ovulation, which is triggered by an LH surge and marks the end of the follicular phase, estrogen levels produced by the corpus luteum reach a steady level but do not surpass the peak levels observed right before ovulation.