Wizard dispensing with fifty old sheep (6)

I believe the answer is:

merino

I'm a little stuck... Click here to teach me more about this clue!

'sheep' is the definition.
(breed of sheep)

I can't explain the remainder of the clue.

(Other definitions for merino that I've seen before include "Fine woollen yarn" , "No rime for this sheep" , "Fine-wool sheep" , "The sheep provides fine wool" , "Spanish breed of sheep with high quality fleece" .)

I've seen this clue in The Sun.

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