This song likens the house of Israel to a wine vineyard. The structure of this song is the same as the allegory of the olive tree found in Jacob 5. The servant is the prophet, Isaiah. The lord of the vineyard, spoken of as ’my well-beloved’, is the Lord of Hosts. And the vineyard is the house of Israel. One difference is that the fruit of this vineyard is grapes and the fruit of the vineyard in the allegory of the olive-tree is olives. Doctrinally, the most important difference is that the song of the vineyard does not deal with the scattering and gathering of Israel as does the allegory of the olive tree. Rather, it explains why it is that the kingdoms of Israel and Judah were allowed to be destroyed—because of their wickedness, for when the lord came to his vineyard, ’he looked for judgment, and behold, oppression; for righteousness, but behold, a cry’ (v. 7).
“The Israelites had a yearly festival, at the end of their year, called the feast of ingathering (Ex. 23:16;34:22), because on that occasion the people were required to give thanks especially for the harvest of fields and vineyards. It has been suggested that this song, or poem, was composed and recited on such an occasion. It contains a parable in which Israel is represented as a vineyard (as in Is. 3:14), and the consequences of the neglect of unfaithful keepers. (Matt. 21:33–41) As a literary composition, no less than as a prophetic utterance, it is regarded as an outstanding piece of sacred reading.” (Reynolds and Sjodahl, Commentary on the Book of Mormon, vol. 1, p. 333)