Since most hot and cold metal-forming processes originate from various casting processes, it is important to test their susceptibility to the deformation of new materials. Cast rods of CuMg alloys with a Mg content of 2, 2.4, 2.8, 3, 3.2, 3.6, and 4 wt.% were obtained in the continuous casting process with pure copper as a reference material in order to obtain information on the material’s ability to withstand 50% deformation. The materials in the as-cast state were subjected to solutioning, cold drawing, and recrystallization. After each process, samples were taken and subjected to upsetting tests with 50% deformation applied in a single operation. Additionally, materials in the as-cast state were subjected to upsetting tests at 700 °C. The hardness and electrical conductivity of each sample were analyzed. Selected samples were subjected to microstructural analysis. The obtained results show an increase in hardness from 46 HB to 90–126 HB, and a further increase to 150–190 HB with a quasi-linear decrease of electrical conductivity, which proved the influence of solid-solution and strain hardening, respectively. The microstructural analysis proved that such deformation does not cause microcracks. Furthermore, in the case of CuMg up to 3 wt.% of Mg, the alloying additive completely dissolved after solutioning.