<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
    <periodOfReport>2003-12-05</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000205239</issuerCik>
        <issuerName>CATTLESALE CO</issuerName>
        <issuerTradingSymbol>CTLE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>

        <reportingOwnerId>
            <rptOwnerCik>0000915696</rptOwnerCik>
            <rptOwnerName>EDELMAN ASHER B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>717 FIFTH AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
        <isDirector>1</isDirector>
        <isOfficer>0</isOfficer>
        <isTenPercentOwner>1</isTenPercentOwner>
        <isOther>0</isOther>
    </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>

        <securityTitle>
            <value>Common Stock</value>
        </securityTitle>

        <transactionDate>
            <value>2003-12-05</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>J</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>

            <transactionShares>
                <value>211197</value>
            </transactionShares>

            <transactionPricePerShare>
                <value>0</value>
                <footnoteId id="F1"/>
            </transactionPricePerShare>

            <transactionAcquiredDisposedCode>
                <value>D</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>

            <sharesOwnedFollowingTransaction>
                <value>0</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>

            <directOrIndirectOwnership>
                <value>I</value>
            </directOrIndirectOwnership>

            <natureOfOwnership>
                <value>See Footnote</value>
                <footnoteId id="F1"/>
            </natureOfOwnership>
        </ownershipNature>
        </nonDerivativeTransaction>

    </nonDerivativeTable>
    <footnotes>
        <footnote id="F1">Such shares were owned by Edelman Value Fund, Ltd., (the "Fund"), a British Virgin Islands domiciled corporation for which Mr. Edelman serves as investment manager.  Mr. Edelman expressly disclaims beneficial ownership of the shares formerly owned by the Fund  for purposes of Section 16 of the Exchange Act of 1934, as amended, or otherwise.  The shares were distributed as a dividend to the shareholders of the Fund as of December 5, 2003. All other shares and options to purchase shares previously reported as owned by the Reporting Person continue to be so held.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Asher B. Edelman</signatureName>
        <signatureDate>2003-12-05</signatureDate>
    </ownerSignature>

</ownershipDocument>

