In a large bowl, dissolve yeast in warm water. Add the milk, sugar, butter, eggs, salt and 3 cups flour; beat until smooth. Stir in enough remaining flour to form a soft dough. Stir in raisins.
Turn onto a floured surface; knead until smooth and elastic, about 6-8 minutes. Place in a greased bowl, turning once to grease the top. Cover and let rise in a warm place until doubled, about 1 hour.
Punch dough down. Turn onto a lightly floured surface; divide dough into six portions. Shape each into a 12-in. rope. Place three ropes on a greased baking sheet and braid; pinch ends to seal and tuck under. Repeat with remaining ropes. Cover and let rise until doubled, about 45 minutes.
Brush with egg; sprinkle with almonds. Bake at 350° for 25-30 minutes or until golden brown. Cool on wire racks. Yield: 2 loaves (12 slices each).