Bounder extremely defensive in cowboys' competition (5)
I believe the answer is:
rodeo
'cowboys' competition' is the definition.
'rodeo' can be an answer for 'competition' (I've seen this before). I am not certain of the 'cowboys'' bit.
'bounder extremely defensive in' is the wordplay.
'bounder' becomes 'roo' (short for kangaroo, something which bounds).
'extremely' says to hollow out the word (remove centre letters) (only the extremes of the word are used).
'in' is an insertion indicator.
'defensive' with its middle removed is 'de'.
'roo' placed around 'de' is 'RODEO'.
Can you help me to learn more?
(Other definitions for rodeo that I've seen before include "Cowboys' riding contest" , "Originally, a round up of cattle" , "display of cowboy skill" , "Horse sporting event for cowboys" , "A bunch of cowboys, showing" .)