After cattle are slaughtered, the feet and lower leg bones, including the skin but not the hooves are boiled. The oil that is released is skimmed off, filtered and pressed. This first pressing yields the highest quality NEAT (means cattle) foot oil. Warm-blooded animals tend to have fats that melt at a high temp. If these types of fats were stored in the legs of cattle they would harden at low temps. Neatsfoot oil remains a liquid at low temps.
Now camels, do not have hooves. Their soft padded feet are composed of two toes with a hard nail that mimics a hoof. Just back of the toes, under the heel bones is a large pad of depot (saturated) fat. As you would expect this type of depot fat is essentially a waxy, tallow-like fat. As a lubricant it had two major faults, (1) it was not water soluble and left a oil-streak and (2) in cold temperatures it solidified. Mineral oil was added which lowered viscosity but also lessened lubricating ability.
An interesting sidelight here is that Shovel-head Harley-Davidsons have a "Camel Oil Filter" to filter out larger particles from the engine oil and there is a Brand of motor oil known as Camel Oil.