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I am not positive about this but, I believe that this indicates that the axle has a 3.00:1 gear ratio. Check with you local Ford dealer for a definitive answer.
Mine is 3:55
On a 1986 Ford F-250 : I believe " 39 " is a conventional axle ( non limited slip ) with ( 3.55 gearing )
I believe axle code " 18 " is a 3.08 conventional axle ( non limited slip )
I believe that is 3.50
Open your drivers door and look at the information stickers , look for the axle code If you resubmit your question with the year of your F-150 and the axle code I'll try to look up the gear ratio - Helpfull
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The axle ratio on a 1969 Ford Mustang axle was 2.75:1
Axle code 12 indicates a 2.73 conventional non positraction differential. Many people that tow a lot go with a 3.55 and those are axle codes 19, 29, 39, 49, and 69.
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On a 2003 Ford Explorer : Open the drivers door and there is an information sticker on the latch pillar You will find the axle code under " axle " Once you have the axle code you can determine the axle ratio