The new tractor was restyled in accordance with the trend toward squared-off lines, compared to earlier Cockshutt offerings.
Confusingly, the 550 was replaced in 1962 by a different Oliver-built tractor, also branded as the Cockshutt 550.
In accordance with industry trends of the early 1960s, the 550 was styled with squared-off lines by industrial designer Raymond Loewy.
The three-point hitch incorporated hydraulic depth and draft control that had been introduced in the Golden Arrow demonstrators.
The 550 could be ordered with adjustable wide front wheels, narrow wheels and fixed wide front wheels[1][2][3][4] 2,930 Cockshutt 550s were built at Cockshutt's Brantford, Ontario plant from 1958 to 1961.