It was a utility successor to the Cockshutt 20 tractor, capable of operating two or three plows.
Following industry trends, the 540 was styled with squared-off lines compared to the streamlined look of previous models.
Although it was a utility tractor, the wheels could be adjusted in a manner similar to row-crop tractors, with power rear wheel adjust an option.
The 540 came with a three-point hitch, power take-off (PTO) and hydraulics as standard equipment.
None were produced in 1960 due to excess inventory from previous years.