If it's Eastern Red Cedar it's considered aromatic cedar. If it's Western Red Cedar it's not listed as aromatic. Eastern Red will eventually lose it's wonderful smell , but it is recommend to lightly sand with a fine grit and it will refresh or return its aroma.
I do a lot with Juniper, a member of the Western Cedar family. it absorbs finish quickly. I have found that I have to put several coats of poly on before I get any build up. Western Red is oily, but is rot resistance.
Check the net, there are some pretty good articles defining Eastern Red, Western Red, White Cedar, Juniper, etc and their uses
Jiggs Elphison