When you take the end off the relief valve I bet you will find how it adjusts. If you do that and didn't find some shims, it's because there is anadjustment screw instead. The 1600 psi you saw sounds suspiciously like the default setting on a standard relief valve. If everything else is working OK my guess is that the tractor mfg. forgot to set the default relief valve pressure for normal tractor operation.
Does one end of the relief valve have a threaded cap you can remove? Usually the adjustment screw is under that. Put a pressure gauge into the port, take off that end cap, and adjust the screw.
You can make up a handy pressure gauge for yourself. It will cost $100 or so for parts. If your junk box doesn't run to hydraulic fittings, get some new "T" or "Cross" fittings plus the necessary adapters for whatever type of thread your loader control valve uses. If your loader hoses have quick detachable fittings for removing the FEL, you can equip your pressure gauge with those, too. That makes it even easier.
The gauges themselves are often cheaper than the fittings.
I like to buy US or known brand fittings rated at about twice the pressure I expect to see. One good source is:
Hydraulic Adapters & Fittings | Hydraulics | www.surpluscenter.com
Look around while you are at that site. They also sell prince brand 1850 universal relief valves in 1/2"NPT adjustable from 1000 to 2500 psi. $60.00. If your relief valve was completely shot You could plumb one of those into your existing loader control valve... but try adjusting yours first.
For about $200/300 you can even buy a good USA-built complete loader control valve and it will come with float, power beyond, and a relief valve built in. But you will still have to adjust the relief valve. It takes about 5 miutes, but the adjustment does require a gauge.
good luck,
rScotty