A division bench comprising justices Dipak Misra and R. Banumathi said the draft of the Jallikattu judgement has been prepared but it would not be possible to deliver it before Saturday.
The court's remark came when a group of lawyers requested it to deliver the verdict.
The apex court turned down the plea saying it is unfair to ask the bench to pass an order.
The court had reserved its verdict on a batch of petitions challenging the Centre's notification allowing the sport.
There were reports of demonstartions and protests in Tamil Nadu demanding that Jallikattu be allowed.
BJP leader Subramanian Swamy in a tweet said: "If Jallikattu is held without awaiting SC judgment permitting it and Tamil Nadu (TN) government fails to enforce the law, Centre must declare President's Rule."
Tamil Nadu Chief Minister O. Panneerselvam on Monday urged the central government to promulgate an ordinance to allow the holding of Jallikattu.
In a letter to Prime Minister Narendra Modi, Panneerselvam said Jallikattu is an integral part of the Pongal festivities and the festival holds great importance for the people of Tamil Nadu.
Tamil actor Simbu on Wednesday urged people of the state to unite and fight against the ban on Jallikattu and said he will silently protest in support of its resumption.
In Jallikattu, a bull vaulter is expected to hang on to the bull's hump for a stipulated distance or for a minimum of three jumps by the bull.
The Supreme Court in May 2014 banned Jallikattu in Tamil Nadu.
The court also held that bulls cannot be used as performing animals either for Jallikattu events or for bullock cart races in the states of Tamil Nadu, Maharashtra or elsewhere in the country.
The festival of Pongal is celebrated to thank the Sun, rain and farm animals. It will be celebrated on January 14.
On November 16 last year the Supreme Court dismissed the Tamil Nadu government's plea seeking recall of its 2014 verdict banning bull fights, holding that the practice amounted to cruelty to the animals.
The court had brushed aside the state government's argument that the 3,500-year-old tradition was rooted in religion and held that there was no connection of Jallikattu with religion.
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