This creatures 'lamb chops' are amazing for taming! They act very similar to kibble and will usualy only lack one or two levels this is why its recomended to bread many of them and tame upon encounter. Then slaughter them for a 150 argy...
You should use Ovis for a mutton farm because mutton is like a less effective type of kibble. Most dinos Love mutton so this is a very useful way to use these!
If you wanna get wool without having to get ovis by just geting vegie cake make a cage with dino gate then get a argy to transport it into the cage then just simply shear it with scissors.