In this paper, we theoretically investigate the magnomechanically induced transparency (MIT) phenomenon and slow-fast light propagation in a microwave cavity-magnomechanical system which includes a levitated ferromagnetic sphere. Magnetic dipole interaction determines the interaction between the photon, magnon, and center of mass motion of the cavity-magnomechanical system. As a result, we find that apart from coupling strength, which has an important role in MIT, the levitated ferromagnetic sphere's position provides us a parameter to manipulate the width of the transparency window. In addition, the control field's frequency has crucial influences on the MIT. Also this hybrid magnonic system allows us to demonstrate MIT in both the strong coupling and intermediate coupling regimes. More interestingly, we demonstrate tunable slow and fast light in this hybrid magnonic system. In other words, we show that the group delay can be adjusted by varying the control field's frequency, the sphere position, and the magnon-photon coupling strength. These parameters have an influence on the transformation from slow to fast light propagation and vice versa. Based on the recent experimental advancements, our results provide the possibility to engineer hybrid magnonic systems with levitated particles for the light propagation, and the quantum measurements and sensing of physical quantities.