Combine flour, baking powder, sugar, and salt in a large mixing bowl, stirring well. Cut in lard with a pastry blender until the mixture resembles coarse meal. Sprinkle 2 1/2 cups ice water evenly over flour mixture, stirring until dry ingredients are moistened.
Turn dough out onto a lightly floured surface. Beat dough with a rolling pin or mallet for 30 minutes or until blisters appear, folding dough over frequently.
Shape dough into 1-inch balls; flatten balls and prick with the tines of a fork. Place biscuits on ungreased baking sheets. Bake at 500° for 20 minutes or until biscuits are lightly browned.