A poultry feeder is provided that may be fully charged with feed. In one embodiment, the feeder includes a feeder tower and a feeder pan assembly that is vertically moveable with respect to the pan. The feeder pan assembly is movable between a first closed position in which a bottom end of the feeder tower engages the feeder pan and a second open position forming a gap between the end of the tower and pan to dispense feed. Feed is precluded from entering the pan when the feeder pan assembly is in the first position. In one embodiment, the feeder pan assembly is operated between the two positions via a cable. An adjusting collar may be provided to regulate the amount of feed dispensed to the feeder pan.