It was mentioned it past logs that the trackable was not in the geocache. You can mark it as missing.
Marking a trackable as missing doesn't mess with it's mission or where it as been, it simply removes the trackable from the geocache's inventory. Doing this will get it out of the inventory so future visitors to the geocache won't be looking for your trackable. When the trackable shows up again it will simply continue along it's way.
If you don't know how to mark a trackable as missing please read this http://support.groundspeak.com/index.php?pg=kb.page&id=152