This is an old farmer's remedy, commonly known in the farming community as "bag balm" because for many years that was the commercial preparation that was available. They not only used it on their animals, but on their own cuts, scrapes, bruises, weather and work roughened skin, etc, etc. I used it in nursing when I had patients with difficult wounds to heal. It is perfectly safe for human use.
http://www.bagbalm.com/