Every morning, the cow gives milk to the calf.

Literal

Every-morning, cow [topic-は] calf [to-に] milk [object-を] give.

雌牛 ('female cow/cow') is 雌 ('female') + 牛 ('cow'). 仔牛 ('calf') uses 仔 ('young animal'). やる here means 'to give' (used for giving to animals or inferiors). 乳 ('milk/breast milk') is read ちち here.