Place ham in a large stockpot with water to cover. Bring to a boil. Reduce heat; cover and cook 3 hours. Remove ham from cooking liquid; reserve 1 quart of cooking liquid. Remove outer layer of skin from ham.
Place ham in a large roasting pan. Score fat in a diamond pattern, and stud with cloves. Set ham aside.
Combine reserved 1 quart cooking liquid, beef consommé, apple butter, sherry, and raisins in a large mixing bowl, stirring well. Pour sauce over ham. Bake ham, uncovered, at 350° for 1 1/2 hours or until golden brown, basting frequently with sauce.
Transfer ham to a serving platter; cool slightly. Cut ham into slices, and serve with remaining sauce.