Fragment: "I found the track of the wind in the trees...but never a trace of baby o." Similarly "...mist on the hill..." and "swan on the lake."
This sounds like a fragment or degenerated form of a child-disappearance ballad. In the hope that the rest of it may surface some day, and because there's a thread of narrative buried in what sounds like a nursery rhyme, I include it. - PJS
I must admit that this explanation never occurred to me (the song just sounds like a lullaby) -- but it's a beautiful melody; I too hope we can find more of it. - RBW