wintermute

I think there's a little more to it than that, if you leave some Proffhide out in the sun, you'll notice stuff melting at different rates and sort of settling into layers. But, it's pretty much beeswax with different types of oils mixed in. So, probably the closest thing to it would be something like Burt's Bees hand salve or Badger Balm. You could also do something like rub some mineral oil underneath the saddle and then melt beeswax on the top and bottom. Snoseal is fine too. You could also use chapstick. Neatsfoot won't hurt it unless you soak it repeatedly, but it doesn't provide the dry, enduring proection of a wax-based treatment.