Heat milk and butter or margarine over low heat until very warm.
Combine sugar, salt, yeast, and 1 cup of flour in a large bowl. Stir in hot milk mixture, and beat with mixer on medium speed for 2 minutes. Beat in 1 more cup of flour, and continue beating for 2 more minutes. With a wooden spoon, stir in enough flour (about 2 cups) to make a soft dough.
Knead the dough on a lightly floured surface for about 10 minutes, adding more flour as necessary. Cover dough with bowl, and let rest for 15 minutes.
Meanwhile, shred muenster cheese. Combine with 1 egg and 1 egg yolk.
On a lightly floured surface and with a floured rolling pin, roll dough into a 24 x 6 inch rectangle. Spoon the cheese mixture into a log shape lengthwise along the dough. Fold the dough over the cheese making a 1 inch overlap, and pinch seam to seal. In a greased 9 inch round cake pan, place roll, seam side down, to make a ring. Overlap the ends, and pinch to seal. Cover with a towel. Let rest 10 minutes.
Brush loaf with egg white, and garnish with blanched almonds, if desired. Bake at 350 degrees F (175 degrees C) for 1 hour, until loaf sounds hollow when tapped. Remove bread from pan immediately. Cool for 15 minutes before slicing into wedges.