One of the unique things about sheep's wool is that sheep produce lanolin, a waxy, oily secretion that helps the wool repel water. Nature's WD-40!
Those grayish-yellowish Aran Isles sweaters you see on the Irish fishermen help them to repel the mist and moisture while they work. Knitters can buy lanolin-oiled wool in various degrees of water resistance. The darker the wool, the more lanolin has been left in. The whiter the wool, the more it's been bleached out.
Great product and it smells good too.