A poultry feeder is provided that may be fully charged with feed. In one embodiment, the feeder includes a feeder pan and a feeder tower that vertically moveable with respect to the pan. The feeder tower 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 tower is in the first position. In some embodiments, an adjusting collar may be provided to limit regulate the amount of feed dispensed to the feeder pan. The feeder tower is configured for suspension from an overhead feeding system.