To be traditional...
Sir John Smyth in his 1590 book, Certain Discourses concerning the formes and effects of diverse sorts of Weapons, writes of archers heating a mixture of bees’ wax, tallow and rosin to make a rubbing paste (applied via a woollen cloth) as a bow's protection against the elements. This mix is also recommended for the string. Roger Ascham's slightly earlier (1544) advice, via 'Toxophilus' is similar but suggests many coats of pure bees wax until a crust is formed. This advise is for yew bows.