Pattern help needed

Hi im attempting my first short sleeved jumped but im struggling to decipher the shaping of the neck for the back piece.
This is the pattern: knitty.com/ISSUEspring04/PATTgrace.html

It reads:
Place first 2931, 32, 35 sts on a holder and cont working left side of back only.
Next row: BO 67, 7, 8 sts, P to end.
Next row: BO 5 sts, K to end.
Rep from * to * once more.*
BO rem. 77, 8, 9 sts, break yarn.
Return holder sts to working needle, join yarn and work as for left side, reversing shaping.

Ive placed 29 on a holder but how do I continue working when the yarn is still attatched to the first stitch of the row which is on the holder? Do I need to cut the yarn? Or is there a way of doing this?

Many Thanks in advance
Chelle

You could have worked those first 29 stitches before placing them on the holder, so your yarn would be in the right place.

The instructions before the ones you quote are to bind off 7, k29(for the right shoulder), bind off 19 (for the neck opening), and k to the end. Now your yarn is at the end of the k row for the left shoulder. Turn and bind off 6 and purl the remaining sts. Your yarn is in the right place and you are working on the left shoulder only for the present. You can put the right shoulder 29 sts on a holder or you can leave them on the needle until it’s time to work them