Daffy Duck is a boxer and Porky is his manager. One morning, while reading the newspaper, Porky sees the headlines "Champion Fighter Cock To Take On All Comers All Local Arena Tonight." There is a $500 prize (big money back then) to anyone who can stay in the ring for 10 rounds with the champ
That night, they go to the arena. Some of the most clever is right here before the fight. The fans stream into the arena so that the roof bursts at the seams and it becomes an outdoor stadium! The referee instructs the fighters: "Remember, there is no hitting below the belt," so Daffy lifts the belt on his shorts up to his forehead!
The actual fight then ensues, and it's okay but mostly a little too silly, although there are some funny scenes like Daffy walking across the top of the ropes, etc. Overall, this is one of the better old-time black-and-white animated shorts I've viewed.