It should do, expecially mainline baits. they may start going white, but this is just the sugars coming out. I used to get left bait from anglers who were leaving, and the whiter the better!
BTW, im not usre where you get your mainline bait from, or the price, but we have the 10kg bags for £85! http://taskers-angling.co.uk/mainline-cell-1kg-bag-1.html and the 1kg bag for £8.49 each.