There was a cow walking leisurely in the meadow.
There are a lot of pastures and grasslands in Ireland.
Let’s hide this money in the meadow over there.
Grass covering the earth is a meadow. Or, if you're less creative, it's grassland.
The reading is a combination of kun'yomi and on'yomi readings. That being said, both readings for both kanji are the readings you learned with the kanji so you should be able to read this.