The song "(Ghost) Riders in the Sky (Live 1998)" by Johnny Cash & Willie Nelson tells a haunting tale of an encounter with supernatural entities known as "Ghost Riders." The lyrics depict an old cowboy who comes across a supernatural phenomenon while out on a ride.

As the cowboy rides along a ridge on a dark and windy day, he witnesses a startling sight. In the sky, he sees a massive herd of red-eyed cows, plowing through the clouds with a terrifying force. The cows have brands that are still on fire, hooves made of steel, and black, shiny horns. The cowboy feels fear deep in his bones as he observes their thunderous charge and hears their mournful cry.

These otherworldly riders, known as the Ghost Riders, are described as gaunt, their eyes blurred and their shirts soaked with sweat. The cowboy realizes that he is trying to catch up with the herd, but he has not been able to do so. He becomes aware that these riders must forever roam the range in the sky, astride horses snorting fire. The haunting cry of the Ghost Riders echoes through the air.

As the riders pass by the cowboy, one of them calls out his name. They offer him a chance to escape damnation and join them on their endless chase across the skies. The Ghost Riders present a choice to the cowboy, urging him to change his ways if he wants to save his soul from Hell. They represent a supernatural force, possibly associated with the Devil's herd, and serve as a reminder of the consequences of actions and the importance of redemption.

Overall, "(Ghost) Riders in the Sky (Live 1998)" presents a vivid and eerie narrative about a cowboy's encounter with spectral riders, focusing on themes of fear, mortality, redemption, and the eternal consequences of one's actions. The song's haunting melody and vivid imagery contribute to its powerful and mythical aura.