Euphemistic slang, literally 'white turbid fluid'. Used informally, often in sexual contexts or online, to refer to semen.
I saw the word 'hakudakueki' on an online forum.
彼は冗談で「白濁液」と言ったが、周りは引いていた。
He jokingly said 'hakudakueki', but everyone around him was put off.