Measure lard and place in the freezer. Sift flour onto a piece of parchment or wax paper. Re-measure flour and sift again with salt into a mixing bowl. Using a pastry cutter, cut cold lard into the flour mixture until the dough resembles small peas. Do not overwork. Add 2 tablespoons milk and work into the dough using a fork. Add one or two more tablespoons of milk, working with a fork until the dough pulls together into a nice ball. Divide into two equal pieces and lightly work into disks. Wrap disks individually in plastic wrap and refrigerate for 1/2 hour or up to one day. On a floured work surface, roll out into a 12-inch disk about 1/8 inch thick and place into a pie plate.
Fill and bake according to your pie recipe. If a recipe calls for a pre-baked pie crust, pierce evenly around the crust with a fork and bake in a 400ºF oven for about 15 minutes or until golden brown. Makes one double crust or 2 single crusts.
Combine water, sugar, cornstarch, food coloring, lemon juice and salt in a medium saucepan. Whisk until combined. Stirring constantly, cook over medium heat until thick and almost hard to stir. Remove from heat and add butter; stir until melted and combined. Add peaches and gently fold to coat. Pour into precooked pie shell. Refrigerate for 4 hours to set.