Lyric discussion by tforencich 

I read somewhere that this album is about Roger Waters views on society. The sheep represent the lower class workers. The dogs represent higher class business men. I'm not sure if they have the same meaning on this song, though. The pigs represent the upper class, rich people.

'into the valley of steel' I think represent the slaughterhouse, which from a human perspective would be the factories.

Can't think of many more interpretations, but great song though.

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