Literally would mean a "cheese like" substance forming on a corpse. However, the term is mostly used to mess with a waitress when ordering food.
Customer: Do you have cadaver cheese?
Waitress: Let me go check...
Slang for attacked, abused, severe disappointment, hassled, overcharged (like getting hit with a bag of hammers, figuratively)
Also "hammerbagging"..the act of getting hammerbagged.
Did you see what they are charging me? I got hammerbagged.
Look at all this traffic..we are getting hammerbagged.
My girlfriend was so pissed at me...I took a royal hammerbagging.