M7040 three point won't drop

[arobint]

Someone posted something similar a couple years back - M7040 cab model, three point won't go down past about 2/3's maximum height. The position lever doesn't really do anything, and the draft lever makes the arms come UP when you push the lever DOWN! Here's a video: Imgur link to m7040 video

The lowering speed knob is not connected (spins freely), but when I turn the lobe it is meant to control by hand, it doesn't really affect the situation. Might be a bleeder valve? Any hints?

THanks!

 

[kubotafreak]

That speed knob under the seat sounds defective. They are plastic and can strip out. Or the retaining pin may be gone. They usually have 180 deg of rotation. You may have to lift the seat to see what is going on with the knob.