I believe it is a rather low priority. People wanted to ride lox, so you can ride lox. The only practical use I can think of for riding one is that it is the only way that you can get one to move where you want it. Lox are good at going where you don't want them to go, so that saddle is essential.

Of all the tamable animals, chickens are pretty much the only must haves. The others are just fun side hobbies. Maybe boars if you're playing with a lot of friends.