If it were just the disc drifting down I would suspect the cylinder on the disc, but since the baler is losing pressure as well, it is most likely the valve under the seat on the tractor.
Try the other remote if the tractor has two. It may not be as worn and will hold. At least you can get the job done and push back the teardown until there isn't so much work to do.
With the teardown, I find putting the valves back together without them leaking profusely to be a frustrating task. The only people able to put them back together so they don't leak are old school IH mechanics, which are hard to find these days as most are retired in their 70's.
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Today's Featured Article - George's Fordson Major - by Anthony West (UK). This is a bit of a technical info to add on to the article about George's Major in the "A Towny Goes Plowing" article. George bought his Major from a an implement sale about 18 years ago for £200.00. There is no known history regarding its origins or what service it had done, but the following work was undertaken by Harold alone to bring it up to show standard. From the engine number, it was found that the major was produced late 19
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