I think either would work. I do make a body cream made of mostly organic leaf lard (w/ a small amount of jojoba, sea buckthorn oil, borage oil, and some essential oils), and it is luxurious. I think beef tallow is harder, especially when cold, so it might be harder to spread. You could combine the two.
Discussion
I make both versions but besides having the tallow be local and the coconut oil not, I couldn’t find many reasons why it’s better except personal preference. I did finally find that it’s similar to human fat so can be absorbed into the skin better.