Strategy without Wyvern Milk
It's actually possible to raise a baby Wyvern without providing Wyvern Milk. Let the Food value drop to zero. At this time, the value for Health will fall and the Torpor will raise. To lower the Torpor, force-feed Stimulant or Stimberries. Place a Daeodon nearby and set it to Passive Healing.
This keeps the Health of the baby Wyvern up (or restores it) at the cost of providing the Daeodon with food, as healing makes it very hungry.
As an alternative to feeding the Daeodon tons of Raw Meat or Prime Meat that will spoil over time, you can produce a lot of cheap Kibble, such as Basic Kibble made of Dodo eggs, which will provide 90 food and only spoils after 3 days. Kibble (Iguanodon Egg) provides 120.
This strategy is more effective when used with high-level Wyverns and Daeodons because they have higher starting values for Food and Health, thus more reserves before they run out.