Raglan sweater - when to cut yarn

I am making a sweater from Debbie Bliss Junior Knits. It is a raglan, my second raglan so I am familiar with the increases and decreases. When you get to the neck/top of the piece (back, front or sleeves) it says to put the stitches on a holder. After all your pieces are made, the instructions are:

join raglan seams, leaving left back raglan open.
With right side facing, k first 11 sts from left sleeve holder, then k last st of sleeve tog with first st of front, k to last st of front, k last st tog with first st of right sleeve, k to last st of sleeve, k last st tog with first st of back, k to end. 69 sts.

Okay, that is a bit confusing but my question for now is, when I put the stitches on the holder, do I cut the yarn or does it stay connected to a ball until all pieces are ready to be assembled? If I cut it, how do I keep it from unraveling while I work on the rest? Should I cut three, leaving one attached for when I knit them all together at the neck?

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You can figure out on which piece you are going to start knitting once you are joining them together and leave that ball of yarn attached and cut the rest. I usually leave at least a 6" tail when I cut the yarn, and once it’s on a holder it will not unravel if it’s left alone. Then once you have joined all the pieces together, those extra tails can just be woven in.