Residents were advised to steer clear of the animals as they could be dangerous if spooked.
Andrew Duncan, chief executive of Otago Venison's parent company Duncan & Co, said while it was difficult to know if there were any on the loose, there had been no sightings reported today.
"Our first concern is public safety and also the welfare of the animals," he said.
"From first light this morning we have been checking to see if there have been any roaming around and so far there have been no reports."
The deer would naturally head into the hills overnight for feed, Mr Duncan said.
Generally shy animals, they would not "willingly" be aggressive to humans but are "best left alone", he added.
Now, Otago Venison staff are trying to work out how they got loose. An emergency gate is suspected of being the most likely escape route.
Mr Duncan said one of their priorities now is to ensure that if deer escape in the future, how they can be contained inside the outer perimeter.
"We're already seeing what needs to be beefed up."
Senior Sergeant Craig Dinnissen said no property damage had been reported.
"There may be a few hoof-marks in people's gardens, a couple of carrots gone missing, but nothing's been reported."
Several eager Mosgiel residents had called the police with deer sightings, but "unfortunately, the deer were quicker than the ability to respond", Mr Dinnissen said.
"Santa may have a few more deer for his sleigh this year."
