Had he just eaten recently? probably not, I have a girl who appears to be saggy all over, I believe she hadn't eaten in awhile prior to me getting her.
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"The greatness of a nation and its moral progress can be judged by the way its animals are treated." - Gandhi
When my red tail eats a large meal her neck will look saggy for about a day. Just think how much there skin stretches during a meal. Sometimes she will be like that before she sheds too.