That sounds like my fix for the axles that do not have inner seals. It does work. I wrap the axle with teflon tape where the silicon is going to touch but probably a good coating of heavy oil or grease would do just as good.
Zane
If it has inner seals this is the way to fix it.
AXLE SEALS REPLACE 8N
It is possible that your tractor does not even have an inner seal. If the tractor was made befor about 1951 it will not have an inner seal. Only the outer one that rides the hub.
Take the wheel off.
Remove the hub from the end of the axle. This could be the worst part if it is tight as it is supposed to be. It will take an old fashioned hub puller to ever move it. Heat and a sledge hammer might work but it is possible to bend it and warp it this way.
Take out all the nuts and bolts from the inner bearing hub and pull the axle out of the trumpet housing. The inner seal will be in the trumpet housing about three inches inside.
The outer seal is in the bearing hub and can be removed by removing the remaining bolts that are from the outside of the brake backing plate and seal retainer. Be sure to study the positioning of the seal and the brake backing plate and mark everything before you remove those last bolts or you may have to put it together and take it apart several times until you get it back like it has to go.
Mark it good.
Zane