What is formed when lard is mixed with water?

When lard is mixed with water, it typically forms an emulsion, but due to the hydrophobic nature of lard (which is primarily composed of fats), the two substances do not mix well. Instead, the lard will often separate and float on top of the water. If emulsifiers are added, such as egg yolk or mustard, a more stable mixture can be created, resembling mayonnaise or salad dressings. Without emulsifiers, the mixture will remain heterogeneous, with visible layers of fat and water.