In this funny sequel to the popular Francis the Talking Mule the loquacious equine and his plucky pal Peter (Donald O'Connor) get a job working on a horse-breeder's ranch and end up saving it from financial ruin when Francis, who has the inside track with the racehorses, provides Peter with names of the winners before the races are run. Sure enough Peter finds himself with a fistful of cash and uses it to buy a racehorse for the farm. Unfortunately, the mare he chooses is suffering from a debilitating lack of confidence. Fortunately, Francis is around to perk her up. When not dealing with the mare, Peter finds time to court the horse- breeder's lovely niece.