My thought is there's better sets for coyotes. And birds of prey will walk around under it trying to figure out how the get it.
Years ago, back in the fur boom...okay, maybe that was 'decades ago', Some local trappers decided to hang dead chicken from a tree limb with traps set beneath it in a circle.
They caught everything under the sun, including hawks, owls, house cats, 'coon hounds and other domestic dogs and yes, did manage to catch a few raccoon and fox or two.
It is a set that is outlawed in many states for that reason alone. Exposed baits draw the attention of raptors, as well as many other birds. It will also catch the attention of people.
That said, I can tell you something that I have used, with success. A skinned beaver either in the fork or a tree or hung hear the truck, so it blended in better.
This will draw in the crows, who will makes such a fuss that it will draw in the predators. The traps of course are in sets that are at a distance, yet still circle the tree or lanes that come into the area.
This works far greater than a trap set beneath, as it takes wary predators while the catch of birds, especially the raptors, is zero !