This conversation is only pretended for the sons of the king and the soldiers to prepare them appropriately for all the further events.

The wishing-cow does not seem to be very powerful since she allows the servants of the king to drag her away for quite some distance before she tears herself loose.

“Then she runs to Sehermund and pretends to believe that he is capable of giving her away without telling her about it.

This behaviour of the cow gives everyone the impression that she is capable of at least a certain doubt towards her master; in that manner those present are skilfully deceived of the idea that this cow is but an immediate expression of Sehermundis personal power and that this dialogue is in fact a monologue; for in reality Sehermund is the cow - just as he is himself.