By Monday morning there had been no sign of the 400kg beast and Stevie Mitchell, of the Buffalo Farm, offered a free Christmas dinner for his safe return.
Mr Mitchell feared the yearling may have been injured.
But on Monday evening, the buffalo was spotted on the road near Shawsmill Farm.
With a bit of coaxing, Bill was lured into a nearby field and some silage was put down to encourage him to stay there.
However, the field was not secure and by Tuesday morning he had scarpered again.
The buffalo is not fully grown and Mr Mitchell said the animal posed no risk to the public.
Mr Mitchell said: “He appeared last night. We came across him on a main road.
“We tried to get him into a nearby farm steading but unfortunately he got past us. We did get him into a field and were quite confident he would be there when we got back this morning, but he had gone.
“At least now we know he’s actually OK and we’re looking in the right area. We’re hopeful we’ll catch him today.”