Robin said "...4.3 Vortec, Merc. ALFA ONE. It's been
sitting for 3 years. The pump is full of fluid; however, the fluid looks like
milk. Do I need to change the fluid? ..."

Robin, your power steering is water cooled and the milky colored oil indicates
a leak in the cooling system, i.e. water in the fluid. Follow the power
steering hoses aft and you'll see where it ties into the engine cooling system.
Find the leak and fix it and hope you don't have corrosion damage to the
hydraulic ram or pump. Do you operate in fresh water (better) or salt water
(bummer)?
Best wishes, and don't ignore it as losing steering is embarrassing at best!
Mike

The pump is full of fluid; however, the fluid looks like milk. Do I need
to change the fluid? (I'm sure it needs it) The pump makes no noise at
all when engine is running. Possible pump failure?