Raven was sent off by referee Craig Thomson for a last-man challenge on Rowan Vine after only 12 minutes although the Saints forward was 30 yards out and seemingly chasing a ball that was running wide.
The visitors then held firm until the 77th minute when Steven MacLean headed home for Saints who are now only one point behind third-placed Caley with three SPL games remaining.
Butcher said: "I have had one look at it and I will have another look at it to see if we want to appeal it or not. I think it is very, very harsh.
"The boy doesn't have control of the ball, the ball is running out to the touchline, not down the middle. If that is a clear goal-scoring opportunity... I can't see that.
"We had to readjust, which we did. Josh Meekings, 20, went to right-back, Danny Devine is 20, and Charlie Taylor is 19, so it was a very young back four but I thought they acquitted themselves very well, they were magnificent.
"We were down to 10 men for 78 minutes but we were tremendous in terms of frustrating St Johnstone, making them work hard for whatever they got and one slight mistake on the far side leads to the goal.
"My boys put in a terrific shift and if we show that in the next three matches then we have a great chance of finishing third."