Would lanolin hydrous work as well as bag balm on my GSD's dry pads?

A couple days ago I posted a question about what I might use on my German Shepherd dogs dry and mildly cracked pads. Daily, we hike up into some very dry and rocky terrain, here in Arizona's Sonoran Desert. Several folk recommended bag balm. Would lanolin hydrous work as well as bag balm on my GSD's dry pads? I ask because I had forgotten I had a large jar of this in my medicine cabinet.