Two specific things: If the loader has double acting cylinders on the lift, and the top of the cylinders are used for oil storage to supplement the resivoir, then one prospect is one of the cylinder is bypassing fluid past the piston. (it only takes one of them to leak to cause the problem). If the cylinders are single acting, the bypassed oil will be trapped above the cylinder, and either cause the cylinder to stop at some point short of extension, or squirt oil out at the point where the ram comes out. If the cylinders are double acting, and not connected as a resivoir, the oil would come out of the top cylinder port.
The other possible issue might be either a faulty or stuck relief valve in the pump, or a leaky control valve allowing hold pressure to bleed off into the resivoir.
Test. Hold the loader up in the air with a chain fall or other reliable adjustable lift. Cap the line going to the valve (lift line). Let the loader have its own wt. and if it drifts down, it is cylinder bypass. (be careful of the loader falling, be safe) If it stays up, it is a valve or pressure regulator problem. JimN
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