I remember hearing a collection of Ladino music a number of years ago, and was amazed to hear this tune, which I'd only known in the Farina song. I don't know Ladino, but the word "neshama" is Hebrew for "soul", and I suspect based on my extremely limited Spanish that some of the grammatical constructions are archaic. Ladino, I believe, bears the same relation to Spanish as Yiddish does to German, i.e., an old form of the language with a large admixture of Hebrew.
Joe, I'm continually impressed with the breadth of your knowledge of Jewish music; it certainly surpasses mine, and I grew up with it! Reminds me a bit of a story about Stan Hugill, who once asked an acquaintance of mine, sotto voce, "Tell me something. How come all these Jewish kids are singing shanties?"

Aloha,
Mark