I don't really know why I would need to say this since everyone knows it's what the ovis is for. If you get a lance you can sheep joust, as everyone should know and do...
Get 1 male ovis and at least 3 females have the mating intrevel so that they breed often have a theri and set it on agressive and then put them all in a pen and watch the meat roll in
Ranarok ovis are more common in the high lands as they spawn in groups of at least 5, I've seen a group of 15 spawn at once but beware as gigas spawn in that area too
Create a 3x3 pen with an airlock door, set on wandering. Place a feeding trough outside to keep from starving. Keep 1 male and any female, put all ovis on wandering, continue breeding and slaughter every male except 1. = Wool & mutton farm.