The aim of this work is to study the economic importance of different genetic improvement objectives in the Latxa dairy sheep breed through correlation and multiple regression analysis between technical and economic indexes. The analysed data belong to a total of 110 flock-year observations in flocks that are under milk recording and that follow a technical and economic advisory programme. Milk production is the trait that most uniformly affects the sheep activity economic margins, however neither fat nor protein content show significative influence. The reproduction traits are less uniform in their effect on these margins, being lambing date and fertility relevant for farmers that transform all the milk into cheese at the farm. Concerning the expenditure on concentrates, the increase in milk production occurs at the expense of the consumption of concentrates, although the higher the milk production the more efficient their use seems. From the analyses performed, it can be deduced that milk yield is the top priority trait for genetic improvement in the Latxa breed.