Beeswax, is the best way to moisturize, great for elbows too. Also, try wearing whites socks only, the dye used in colored socks soaks up the moisture that you put on your feet, causing feet to stay dry.
Need to get rid of all of the dead skin first. Get a good pumice stone and wet your feet and the stone (shower). Rub all that not absorbent skin away first. You can get rid of calluses and dead skin in about 10minutes. Then use your lotions.
Dry peeling feet skin is caused by fungal infection. The best way to get rid of peeling skin on feet is by soaking your feet in a solution of water and apple cider vinegar. This should be done twice a day, for at least fifteen minutes each time. Another way is by applying diaper rash ointment.