If you got a mountain range and a meadows nearby; set up a wolf breeding farm.

Set up a small base where you can grow some food and flax, but also where you got a portal.
Mine out a large enough area for the wolves to live in near it, make sure you're able to leave that area using stairs.

Next, head to the meadows and try to tame several boar; one at a time.
When you tamed one, lead (read: push) it back to your base and close to the pit in a seperate pen. Just make sure you cover the pen with a roof to avoid the boars being killed.

Next head to the mountain and lure the wolves into the pit.
Would even be better if you got the "Hunt-event", but there's more risk with that one.

Start feeding your boars carrots or any other vegetable you can grow at a meadows base so they get off spring. Once you got a few boars, kill the oldest ones - or the off spring - and feed the meat to the wolves.
Once the wolves are tame, keep feeding them to get more wolves.

Eventually when you have around 30-50 wolves, create a slope and order your wolves to follow you.
Head out to the altar, do the sacrifice and let your wolves attack Yagluth.
While most of your wolves may die, the damage they do and the fact Yagluth is concentrating on them gives you the time to move in and hit him as well. With the right weapons - which are already mentioned above - the fight will be short and in your favour.

Thorin :)