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There's two types of Neatsfoot oil, one that's pure and animal-based, and one that's petroleum-based. I found this on the subject:
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wikipedia said:Neatsfoot oil is a yellow oil rendered and purified from the feet and shinbones (not the hooves) of cattle. It is used as a conditioning, softening and preservative for leather, and remains liquid down to a low temperature.
Neatsfoot oil is produced much less than it once was. Currently, the shins and feet of cattle are usually rendered along with the rest of the body. Also, many products sold as neatsfoot oil are actually diluted with petroleum oil, which is bad for leather.
The best quality neat's foot oil comes from the legs of calves. The fat in animals legs generally has a lower melting point than the body fat which means that it is more fluid and easier to use at lower temperatures which makes it more effective for treating leather.
The oil's name comes from an old term for animals of the genus Bos, especially cattle, which is retained in the phrase needsfire
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