YES it is possible.
There are several effective ways to train a dog with a high prey drive to live peacefully with cats or other small pets. I prefer to teach these dogs that cats are off limits altogether and are not to be disturbed. Using a friend or family member to help you, set up several short daily training sessions. With the dog wearing a training collar and leash, put him on a sit/stay beside you. Have your friend hold the cat on the other side of the room. Your dog will probably be very curious and even excited at seeing the cat, but insist that he remain in the sit/stay position. Praise your dog for sitting calmly.
Have your friend bring the cat a few steps closer. If your dog continues to stay quietly at your side, wonderful! Praise him for it. If he tries to lunge at the cat, though, give him a stern, fierce-sounding “NO! LEAVE IT!” along with a short, sharp jerk on the lead and put him back in the sit-stay position. As soon as he is sitting calmly again, praise him sincerely. Continue bringing the cat closer, a few feet at a time, repeating the corrections as needed and making sure to praise the dog when he sits quietly and ignores the cat. Have patience — depending on the intensity of your dog, you might only be able to gain a few feet each session.
When your dog is able to sit calmly even when the cat is right next to him, you're ready to proceed to the next step. Release the dog from his sit/stay and let him walk around the room with the cat present. Leave his lead on so you can easily catch him and give the necessary correction if he gives any sign of wanting to chase the cat. Your supervision at this point is critical - to be effective, you must be able to correct the dog each and every time he even thinks about going after the cat. If he's allowed to chase her, even once, he'll want to try it again and you'll have to start your training over from the beginning.
Some dogs learn quickly, others may take weeks to become trustworthy around cats. Until you're sure the dog will remember his training, don't leave them together unsupervised!
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