Personally around my area, big cattle area. The deer use the same forage fields and don't spook at the cattle. However like some1 above said they don't seem to mix. If i see cattle at the north end of a field, I can almost surely bet the deer won't be there, at least until the cattle have moved on.
Being a semi "natural" scent in the area, I honestly do try to step in a small cow pie and cover my own scent with theres, Seems to work well, but I don't have the luxury of some with the budget on hunting. Careful using this tactic, the fresher it is does seem to be alot more slick. too much and u'll be wiping your feet before u get to ur stand.