Looks like a broody to me.
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Thankyou for the info i have a 1 year old leghorn looking the same (bare belly) she has always been thin in the belly area. I have checked for mites and they dust bath daily in the topsoil pile when out free ranging and the area is normal skin color no red no blood spots no brusing and no feathers are found in the coop. If she is what you are explaining would she still be laying eggs (she lays about 6 a week still) ?I find it interesting that several people have noted that it looks like a broody chicken and that this option seems to be completely ignored.
I'm in the broody camp.
Remember that they start to do this before they sit on eggs as they prepare. If you take away the eggs everyday- there's nothing for them to sit on - and so they're ready to brood but don't have anything to sit on- some chickens seem to need a minimum number of eggs before they begin to sit on them. Additionally, many of you have stated they are young chickens---They could be getting the broody feeling (therefore preparing the brood patch), but just don't quite get it yet.
Being that the bare skin is localized and in the brood patch area, I would conclude that it's not mites and not feather picking (in a negative sense).
Relax.
Sandra