The status text use to just indicate if you were full or hungry to show you if you were currently able to eat a meal or not. Though you would become 'hungry' very soon after eating which could have been confusing. It is even a good idea to stay a little 'peckish' in case you need to eat for healing in an emergency or want to apply a buff. With this update the status text will now show more levels of hunger to better communicate how hungry you are:
Full - You cannot eat, and gain 0.5 bonus damage
Peckish - You could eat, but you are not hungry. No bonus damage
Hungry - You are hungry, probably a good idea to eat soon. No bonus damage
Starving - You are very hungry, and damage will be reduced by 0.25
Famished - You are extremely hungry and weak. Damage will be reduced by 0.5 and you will begin taking health damage
Small Patch: Improved status messaging
Source: Steam Community (opens in a new tab)