Place the fat in a large, heavy pot with 1 cup of water. Heat over a medium to low flame and cook slowly, stirring with a wooden spoon to avoid sticking and scorching. Try to push the raw fat under, so it can dissolve and doesn't start to spit as it crisps. Continue to render for 2 hours, until the fat pieces have shrunk to small toasty bits and sink to the bottom of the pot. The rendered fat should be clear yellow.
Let the lard cool and settle for 10 minutes, then strain through a sieve lined with 2 layers of cheesecloth. Cool for 1 hour, then pour into a heatproof glass container. Lard keeps for 3 months. Tightly cover in the refrigerator.
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