Where "On the Sheep's Back" Comes From
Australians say the country “rode to prosperity on the sheep's back” to describe just how much the nation's economy depended on wool exports, from the Merino wool wealth of the 1800s through to the wool boom of the 1950s.
The phrase was firmly part of the language by the 1950s, when wool riches were seen as central to Australian national identity, even though it's mostly used today to talk about economic history rather than sheep farming itself.
"Australia rode to prosperity on the sheep's back" is how history books describe the wool-boom decades.
How Aussies Actually Use It
Almost always used to talk about Australian economic history rather than literal sheep farming.
A history teacher or economist is far more likely to use it than a farmer.
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