A trailer was reported stolen from outside a Drouin residential property on Sunday night.
Police said the trailer had been connected to a grey Isuzu D-MAX parked in Buln Buln Rd before the theft.
A padlock securing the grey trailer, with registration plate "651 49A", appears to have been cut between 10pm on Sunday and 6am on Monday.
It was the second trailer theft reported to local police last week.
Police said a six by four silver caged trailer was reported stolen from a rural property at Duggan North Rd, Fumina sometime between July 19 and August 31.
It had been stored in a shed and a padlock for a door was missing.
Anyone with information which may assist police investigations is urged to contact Warragul police on 5622 7111.
Two cars stolen
The owners still hold the keys to two cars stolen from Warragul last week.
A white 2018 Mazda was reported stolen from a driveway in Thomas Crt on Saturday night. The theft is believed to have occurred between 11pm on Saturday and 9.30am on Sunday.
Police said there was no visible sign of force. The vehicle's registration plates are "1NT 4SE".
It followed a white 2016 VF Holden Commodore being reported stolen from a carpark off Club Lane on Wednesday night.
The vehicle, with registration plates "1IY 6GI", had been left in the carpark from 7pm to 9pm.
Both vehicles are yet to be located.