The measure had been set to be adopted at a Rome conference of state and regional representatives but after meeting fierce resistance the decision was taken to study the issue further.
"The wolves are not yet safe, but for the moment common sense has triumphed thanks to the protests," said Michela Vittoria Brambilla, head of the Italian league for animal and environmental protection.
A new conference to adopt all or part of the plan was pencilled in for the end of February.
But opponents of the plan insist the lack of a recent population census means the numbers may be way off -- the Apennine estimates range from between 1,070 and 2,472 -- and therefore it is impossible to aim to cull five percent of them.
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They also say other measures to protect lifestock would be far more effective. Moreover, there are no statistics on the damage the noble predators cause.
But farmers today have little patience for these sleek hunters.
Stefano Masini, head of the environment arm of Italy's agricultural association Coldiretti, says the situation has worsened in recent years.
The number of wolves is rising sharply "and attacks on cattle multiply, now even in daylight", he told AFP ahead of the conference.
The new plan envisages 22 measures ranging from conducting a fresh census, to installing electric fences to protect livestock, speeding up compensation payouts for farmers who have lost animals, and tackling crossbreading between dogs and wolves.
The World Wide Fund for Nature (WWF) has cried "SOS Wolf" on social networks, circulated petitions and organised a protest at the conference where demonstrators wore wolf masks and howled.