Power steering pump burning fluid?

I have a 1991 Ford Ranger. The engine was rebuilt so its at around 70,000 miles. I have to refill the power steering fluid a lot. Way more often then I should have to. I can't see any kind of a leak at all and no evidence of one. It also smells horribly burnt. Almost like the pump is just burning through the fluid. Any suggestions or ideas as to what this is and a possible fix?

It's leaking. They don't "burn through fluid."

While idling in park, have a friend turn the steering wheel to a full stop either right or left. Look closely at the pump, lines and around the steering sector. You will find your leak!