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Explains the pointlessness of insignificant objects when compared to more pertaining aspects.
In another usage, it goes to dismiss collateral damage.

Literally: When a cow dies, it dies.. nobody gives a fuck.
A: The flood killed 4 people..
PETARD: Thats nothing.. What about the millions of livestock lost? No one considers their suffering..
A: Dude, when human deaths are involved, cow die, cow die.

Mom: If you keep playing video games all day, who's gonna do your homework?
Son: Cow die, Cow die..
by SwayDifu November 27, 2010