Verified answer

I'm not familiar with this passage in Freud, or Freud derivative psychology, but I'm going to assume by "cathexis" you mean the brain's action of identifying the penis/breast through libido/as libido (unless you are hoping for a penis as little head pun, in which case, the answer is a plain "no";)

If you identify the breast with mother, the possible answer is "yes", that cathexis (in a steam engine sense) of the penis is lost to pure libido and its process of identification by identifying itself not only with, but as mother. Freud would probably throw in a bit about emasculation, etc., in the identification of the penis at all with female libido, but I don't think misplaced castration fear should be relevant at this point, really.

Freud's answer, on those to points, to this question would be "yes". My answer, considering the possibility of identification with mother first, and female libido in general second, as objects mutually of desire, fear, repugnance, and regeneration would be- respectively- "messed up" and "whatever gets you to sleep at night". On the answer as a whole, I would say, for the modern object of analysis, the answer should be a hearty "no", with a subtitle of "pass the whipped cream".

Enjoy:)

Mr. Happy is not losing anything, it has a normal reaction to the female breast. I am a breast man, and I don't even want to think about your question anymore. Don't ever question the wisdom of the little man.

a penis is a penis and a breast is a breast dogg

After all it is all flesh and muscle