Is the radiator water level down?? Your moisture COULD be condensation. Since you have not ran the tractor since October. I would change the oil and run it and see if you still have milky oil after that. Also check to see if you have any bubbles coming up into the radiator. A bad head gasket can do that. While your running it check the temperature with some thing other than the factory gauge. I have had them go bad. I usually use a inferred thermometer. IF your sure it is getting hot and there is water. I would pull the head and have it checked. The water leak could be many things but the getting hot is usually head or head gasket issues allowing combustion gas into the water.
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Today's Featured Article - A Cautionary Tale - by Ian Minshull. In the early 1950s my father bought an Allis Chalmers B and I used it for all the row crop work with the mangolds and potatoes, rolling and the haymaking on our farm. The farm and the Allis were sold and I have spent a lifetime working on farms throughout the country. I promised myself that one day I would own an Allis. That time event
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