OK, it's clearly not going to be as accurate for a sheep as for a pig, but that doesn't mean it would be without value. I just wondered if any published correlations existed (I did find a couple through google, but they weren't applicable to the breeds I have).
My other options at the moment are either to construct some sort of see-saw arrangement and then bribe the sheep onto it, or to duct tape the sheep's legs to its body (important because it mustn't touch the bottom or that will invalidate the result) and then throw it in a bath to see how much water it displaces

. So, you can see why some sort of empirical measurement based method would be a more attractive option!