Soften the yeast in the warm water in a large mixing bowl. Then mix the melted lard or shortening and the salt.
Add the flour alternately with the water, sifting the flour in a little at a time and beating well after each addition to make a smooth mixture you will probably have to knead in the final cup of flour.
Shape the dough into a ball, place in a greased bowl, brush lightly with melted lard or shortening, cover with a dry cloth, and set in a warm place to rise for about 1 hour.
When the dough has doubled bulk, punk it down, turn onto a floured board and knead for about 5 minutes. Divide into two equal parts and shape onto two round loaves on a well oiled board or greased baking tin.
Cover the loaves with a dry cloth, set in a warm place, and let rise for 15 minutes.
Bake the bread in a hot oven at 400 F for 50 minutes or until loaves are lightly browned and sound hollow when thumped. Cool, cut into wedges before serving.