From the Blue Moon Fiber Arts website:

100% South American Polwarth. Polwarth is a cross between the long wool Lincoln and a fine wool Merino. A good breeding plan for a heartier fine wool sheep with a longer staple. Our hope is that Victoria becomes one of our good basic sweater yarns right next to BFL Sport and Woobu. It has the softness we all want, a bit of a sheen from that longer staple and excellent stitch definition. A dreamy yarn for all kinds of applications.