The only problem with Vaseline is that it is greasy and everything sticks to it-hay, shavings, hair, poop! YUCK!
When my girls have dry udder skin or the skin is stretched tight, I use Cocoa butter body lotion. It makes their skin nice and soft and supple plus they smell really good, sort of like a Herseys chocolate bar!
We have used Vaseline. Depends on what you're using it for, and the key with Vaseline or any greasy type cream is to rub vigorously to work in as much as you can. Once the skin has soaked what it needs in, wipe the excess away with a cloth.
Otherwise, go ahead and use udder balm, or bag balm. I really like coconut oil and vitamin E gel capsules.