The Smith family has been breeding Merinos at Glenwood since 1898.

Glenwood was originally a part of a large acreage of land taken up by the Martin family as squatters based at Gunnegalderie in the mid 1800s. In 1898 part of this land was purchased by Henry Smith of Geurie Station with a loan to his son Norman of £2000.

Over a number of years, adjoining blocks were added to Glenwood until at one stage it comprised over 9000 acres. As well as Glenwood, Norman also owned Glenrock and Bulbudgeree. Norman HL Smith ran quality merino sheep and in 1902 won the Champion Ram at the Dubbo and Wellington show with a ram called Storm.

In 1914 Norman Smith purchased top stud rams from the renowned Zara stud in the Riverina due to the severe drought at the time. This promoted the quality of wool produced from the progeny of these rams as noted in the Sydney Mail in 1919.

In 1929 Mr. Norman Smith purchased 2 rams and 297 ewes from Bundemar to establish Glenwood Merino Stud. HL (Lester) Smith continued the management of Glenwood through from the 1930s until the 60s. He continued the fight with rabbits and further improved the production of Glenwood. He was one of the first farmers in Australia to spread superphosphate from the air and later sub clover which greatly increased the carrying capacity. The merinos through this period continued to improve and develop to suit the land base. Malcolm McLeod was the stud classer.