5K Odd Hydraulic Leak

[Steve Sherman]

My 86 5KTQW has a hyd fluid leak in an odd place.  The fluid apears to
be coming out of the solid steel pipe that bolts onto the rear of the
pump at or near the junction where this pipe goes down to the flex hose
covered in foam. There are some fittings there and as I recall a value
inside.  I've checked all the nuts at this junction and all are tight.
I'm thinking about a posible failure of the pipe itself, perhaps where
the nut is joined to it.

Anybody out there seen this before, and if so where did you uncover the
leak?

TIA