The difference between a dead cow and scraps from a butcher shop is the amount of edibles. Coyotes can't digest raw fat. I doubt at today's beef prices there's much red meat in those scraps as even the trimmings can be ground. There will be some intrest as it represents potential food but every coyote within 5 miles isn't going to camp on it like they would a carcass.
While that may be true, the advantage to a pile of scraps is that coyotes can pack them off. They aren't required to stand around in the same spot and be nervous. They will run in, snatch a mouthful and run off to eat it, then return for more.
I have a friend who trapped A TON of coyotes with nothing but beef scraps. I have a picture from his line with 7 coyotes standing around in traps. He had lots of 3-4-5 at a time checks. Plus, you can set the spots you want in clusters, rather than spreading traps over a hundred miles of country.