Oh ZTC, if we knew that we'd all be much richer! I don't know where you are, but here in the North of England it's a matter of taking the rough with the smooth. Some years there's a profit, some there's a loss. You simply can't predict and you just have to take the prices that are around. If you can butcher and sell the meat direct to friends, family, local customers, then you will probably have a better chance of making a bit of money most years.
You can improve your chances of a profit a little. Have a look at your local livestock auction's reports and see if there's a pattern - for instance, up here lamb prices usually drop in August (when everyone's lambs start to be ready) and pick up again in the New Year (when most last year's lambs have now been sold.) Ramadan and other religious festivals can have an impact too. So if you can see a time when the prices are likely to be higher, see if you can get store lambs that will fatten to that window.
Have fun anyway!