AHHH no. If its not synthetic it will gum up and go rancid. I use Haynes Silicone Spray made especially for use in sanitary conditions. Heres a link where to purchase it.

http://cabelas.com/cabelas/en/templa...results1.jhtml

for threaded rods use lubriplate.

http://www.sausagemaker.com/browseproducts/Index4.html