The tractor, a blue New Holland TM140 should be bearing the registration EJZ 4375 and may have a crack in the lower glass panel of the cab window.
The feeding wagon was full of silage when stolen from the farm yard on the Ballylough Road.
Police said: “This has left a hard working farmer in our community short of £40,000 worth of equipment.
“If you see either machine, or have seen similar since yesterday evening, please call us immediately on 101, quoting incident number 155 of 19/02/16.
“The same applies if you find a pile of silage where it shouldn’t be,” said the PSNI.