It has a lot of tallow, it has a lot of butter. It means fat, sebed, buttery, greasy. It can also mean slow, obese, moving with difficulty.
1º_ Greasy, with a lot of tallow. 2º_ By the previous one, fat, obese. 3º_ Lazy, slow and left to do things, who prefers to stay in bed to rest. It comes from "gathering sebum or fat, by being still without exercising the body". See suffix -udo .