Eyebeesoaping, there are couple of things I've noticed about lard, which I don't use all that often because I don't like the smell and I am a vegetarian. (I use it in soap for some family members.)
Once I bought some with a really strong smell and soaped with it anyway because I didn't really know it was probably 'off'. The smell was awful strong even after the soap was a couple of days old and even made my DIL sick to her stomach. Eventually the odor did soften some, but never enough that my nose couldn't smell it.
However, I have purchased other lard that did not smell anywhere near as strong and the subsequent odor in soap was much milder. Admittedly, I can still smell it if I don't use a nice fragrance to help with that. But as Susie said, a sensitive nose will smell it. Not everyone will have the same experience.
If you have never used lard in cooking, you may not realize if the lard is 'good' or 'off' but if you soap with it a few times, buying other lard a few times, you will get to know how it should smell. If the smell seems very strong to you, perhaps you would consider taking it back to WalMart and asking for a refund or a newer (check the sell-by date on the container) package.