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The wool industry has changed considerably since synthetic fibres entered the market in the mid-twentieth century. Merino sheep, prized for producing especially fine, soft fibres, remain the preferred breed for garments worn close to the skin, while coarser wool from breeds such as Romney is more often used in carpets and upholstery. Shearing normally happens once a year, timed before the hottest months so sheep are not left exposed to extreme cold immediately afterward. Despite competition from synthetics, wool has retained a niche market because it is naturally flame-resistant and can absorb a substantial amount of moisture without feeling wet, a property valued in outdoor and performance clothing. Global wool prices, however, remain volatile, fluctuating with both fashion trends and the price of competing synthetic materials.