Yes and no. Hollow hair like some goats does insulate well. It can be overcome with more volts and the ground. With wet soil you've a good ground, dry soil and thick cover not so much. Metal laying on ground for excellent conduction will do the trick. That and why you need 8K volts for them and some goats.
I've had beekeeper tell me he was hit and had electric. Found out later it was only working intermitently (solar powered junk model). He later saw and watched a bear come to apiary then stop about 50 ft away and walk off. He surmised the bear could hear the electric was on, in some way knew power was on. That's all it took as it was trained to what a shock was from when the system was new.
Where I live now is basically a thoroughfare for bear. Ridge line with 500 acres of old farm land and state forest other side of this ridge and covering other hill lines that convene here. Back side of lake just down from us is a cliff...all animal roads lead to my backyard. So it's not a bacon bait to train one or two bear it's all of them in this quadrant I've got to train. I'm not really overbuilding, it is going to be a war this spring to fall on my little bunker of bees.