I played this song on the local community radio programme I co-present in Aberdeen a month or so ago, when Archie was due to appear at the Stonehaven Folk Festival, so have it downloaded from "iTunes". Here's what I hear from listening to it again.
Archie at his best.

I rede you, beware o' the hunting, young man
I rede you, beware o' the hunting, young man
For the Lord of the May has sorrow for, aye,
his daughter away wi' the faeries was ta'en

I rede you, beware o' the hunting, young man
I rede you, beware o' the hunting, young man
After mony's the year, to bring him some cheer
The Lord of the May to the hunting has gane

I rede you, beware o' the hunting, young man
I rede you, beware o' the hunting, young man
For he drew not his bow at a deer or a roe
But the bonnie white bird that sat on a stane [ stone ]

I rede you, beware o' the hunting, young man
I rede you, beware o' the hunting, young man
For his arrow he shot but it harm-ed her not
For it died in the heart of his daughter Elaine

I rede you, beware o' the hunting, young man
I rede you, beware o' the hunting, young man
The Lord of the May has sorrow for, aye
his daughter away by the faeries was ta'en