Last summer we cut up a 40' steel flatbed trailer for scrap. We used oxy-acytlene setup. If I recall correctly it took one tank of acytlene and 4 tanks of oxygen. Probably 6 hours total cutting time, we made almost everything into short steel. The hitch plate and axles were too massive bother cutting. The rear axles weighed over 2000 lbs each and were pretty tough to move.
Unless you are looking to make a profit, I would get a hold of a scrap yard near the trailer and see if they can remove it for you. With prices so low they may not pay anything for it, but it would be taken care of and it won't be your problem.
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