Most shear pins are of a mild grade on the setups similar to what your doing for a definite reason, to break before the universal does, making the PTO shaft a propeller. If it is the hitch point locking lug then it needs to be hard but otherwise a 4.8 bolt would do. Look at the hole for the shear pin, as far as they go if it is oval your problem may be there. If the shear pin brakes often, maybe your PTO clutch fitted is to tight assuming you have one fitted. Turn the mower by hand, may it be that you have a seized bearing, if it turns to difficult it will break your pins. Tractors only put about 70 % of their power out at the PTO, if it states that your tractor has 30 HP it will probably be the engine power and not the dyno'd power of the PTO, see your operators manual.
Reread your post, if it is at the tractors PTO side it isn't a shear pin just a hitch pin, which on most systems is spring loaded and has a taper and flat to the pin. It should not sheer, I suggest you follow my instructions above.