I have a 1998 F150XL 4.6L that has a factory dip stick made out of what appears to be braided wire with a solid lead tipped end sized to measure the proper level of oil......My problem which has only cropped up a few times is its inability to read the oil properly. No hole in dip stick tube, but it just refuses to flex down into the pan like it should at times I guess. I have noticed this when the weather gets real cold outside. Changed oil and put the proper amount in as usual. Just wondering if anyone else with this engine have an issue like this?? or am I

 

Not sure if this is the same issue, but I had a similar problem with mine. I knew the oil was full, but it wouldn't stick to the dip stick. Someone suggested taking a scotch brite pad and scrubbing the end where you would read the oil and cleaning it. Over time, it gets gunk on the end. Seemed to help on mine.