Running Cost Of A 1957 Manuel Defrost Freezer
May not be too bad, I would estimate only about twice as much as a similar new one, translated, $4-8 more per month.
Older freezers like this can be repaired with newer parts IF you can find a good refrigeration technician and are willing to pay for it.
The question of trusting 1/2 a steer to an older freezer is hard to answer, the real question is would anyone want to eat that much red meat in a year knowing the health risks of doing so, LOL.