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There's two gears on your speedometer. One in the transmission or transfer case (drive gear) and one on the end of the cable (driven gear).
Best thing to do is pull the cable from underneath and inspect the gears to see what kind of condition they're in. I'm willing to bet that one of them has sheared off.
It also wouldn't be a bad idea to change your fluids in either the transmission or t-fer case that the cable plugs in to so that you're sure that no chunks of that gear may be floating around in there.
If the speedometer still works, but the odometer quit, or the speedometer quit but the odometer still keeps track of mileage, then you need a new speedometer head.
If both quit working, check like 1983F-1503004x4 describes...
If the speedometer still works, but the odometer quit, or the speedometer quit but the odometer still keeps track of mileage, then you need a new speedometer head.
If both quit working, check like 1983F-1503004x4 describes...
The original poster did not mention whether or not his truck has a resettable trip odometer, but if so equipped, it is very important to reset the trip meter only when the vehicle is not moving.
Resetting the trip meter while moving will most likely damage the gears inside the speedometer head and the trip meter will no longer work. Sometimes, though, the odometer and speedometer will continue to function normally.