The disease contracted after a long night(s) of handling used "goods". Symptoms include sores, pustules, and a lack of mobility in the afflicted area, causing the appearance of greasy bacon.
Most commonly in the hand or palm region, hence the name.
Also in reference to a disease of the same name acquired from fisting livestock.
Hey, Danny! Want to come shoot some hoops with us?
Nah dude, I came down with a wicked case of hog palm from your sister at the strip club last night. I think there may have been some man glue on her or something before she gave me that dance.