I wouldn't recommed that material or Polyfill as both are not good cabinet dampening materials. The only foam I could recommend is acoustic foam made by Auralex, but that can be pricey. If you want a high quality inexpensive material to dampen a cabinet with I would highly recommend either using OC705 or 8Lb Mineral board with the later being one-quarter to one-third the price of the former.
If you are using a vented enclosure you will likely want to wrap the material with some cloth as it isn't somethihing you want shooting out of the port. Also, if you use this material be sure to wear gloves and a mask as it isn't a good idea to breath.
One last thing to note: If you over stuff the cabinet low frequencies will be deadened slightly so you might need to play with the stuffing level a little. If you post what you are building along with dimensions and such I can make recommendations.