As a blacksmith, I can tell you that the original quote is actually factual. (I have no idea if Yeats actually wrote it, though)
It is quite possible to heat up a piece of steel by hitting it. In fact, with a big enough hammer- I use what is called in Argentina a Martillo Pilon - it is quite possible to get a cold piece of steel up to red hot, simply by hitting it.
No humor in that quote- it was simply written at a time when blacksmiths were pretty common, so the average writer knew a bit more about them than someone does now.
But I have to agree- why would someone in the USA buy sidra from Argentina, when there are so many US brands that are quite good, and, probably cheaper as well?