Combine yeast, milk, 1 cup flour, and sugar in a large mixing bowl; stir well. Add 1 cup flour and salt; mix well. Stir in egg and lard. Gradually add remaining flour; stir until well blended. (Dough will be soft.)
Turn dough out onto a floured surface; knead 8 minutes or until smooth and elastic. Roll dough to 1/4-inch thickness on a lightly floured surface; cut with a 2-inch biscuit cutter.
Dip each roll in melted butter. Make a crease with a knife across each circle, and fold roll in half. Gently press edges to seal. Place on baking sheets, and let rise in a warm place (85°), free from drafts, 30 minutes or until doubled in bulk. Bake at 400° for 12 minutes or until golden brown. Serve hot.