Sounds like a blown power steering line. To confirm, wipe down all surfaces around the power steering unit including the lines. Replace the power steering fluid and start the engine. While 1 person is inside the truck, have them turn the wheel from side to side while another watches the area around the power steering unit paying very close attention around the lines. The high pressure line is the most common cause for leaking fluid. If there's no crack or kink in the line, the issue may be the fitting itself where it connects to the power steering pump. Both parts are pricey but replacing the high pressure line (about $150 at the dealer) is certainly less expensive than replacing the whole power steering unit itself.
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