To the bowl of a food processor, add the flour, orange zest, salt, and ¼ cup of the sugar. Pulse once or twice to combine, then add one quarter of the lard and pulse until the mixture looks sandy, about 10 pulses. Scatter with the remaining lard and pulse until a dry and crumbly dough starts to form, about 8 pulses. Pour the wine and orange juice down the feed tube while pulsing until the dough is sticky and uniform, about 7 pulses. Turn the dough out onto a lightly floured surface, and press into a 2-inch-thick rectangle. Wrap tightly in plastic wrap and refrigerate for at least 6 or up to 24 hours.
Unwrap the chilled dough, lightly flour a clean work surface, then place a large sheet or of plastic wrap over the surface of the dough (you want several inches of overhang). Roll the dough into a ½-inch-thick rectangle (dimensions are not important). With one of the long sides of the rectangle closest to you, fold in the two short sides to overlap like a letter. Press down lightly, then fold the dough in half, short end to short end. Press the dough a few times to shape it into a tidy rectangle, then wrap in plastic and refrigerate for 1 hour more.
Preheat the oven to 350°F. Line a large baking sheet with parchment. Unwrap the dough and return it to the lightly floured surface. Place a large sheet of plastic wrap over the surface of the dough and gently roll into a ¾-inch-thick rectangle. Working quickly, use a lightly floured 2-inch cookie cutter to cut out shapes of your choosing, then place them on the baking sheet, leaving at least 1 inch between each cookie. Re-roll your scraps until you have no dough left.
Bake until the cookies are pale golden on top and beginning to brown at the edges, 25–30 minutes. Cool on the tray for 2 minutes. Meanwhile, to a small bowl, add the remaining 1¼ cups sugar. Gently place one cookie in the bowl, sprinkle some sugar all over to coat, then transfer to a wire rack to cool. (Do not jostle the cookies in the sugar as they are fragile and may break.) Repeat with remaining cookies. Cool completely before serving; mantecados will keep for up to 1 month in an airtight container.