Cattleman managed French beloved (7)
I believe the answer is:
rancher
'cattleman' is the definition.
(I know that cattleman can be written as rancher)
'managed french beloved' is the wordplay.
'managed' becomes 'ran' (I've seen this in another clue).
'french beloved' becomes 'cher' ('dear' or 'beloved' in French).
'ran'+'cher'='RANCHER'
(Other definitions for rancher that I've seen before include "A cowboy" , "Person with stock" , "Cattle farmer in the Americas" , "Hacienda owner" , "Owner of a large farm" .)