Indeed. When the 1988 study was done, which resulted in the book of cow names among other things, there were about 360k cows in Norway total, and the average number of cows per farm was ~5.6.

These days the number has risen, IIRC around 35, though that's still quite a low number compared to larger countries I imagine. I'm pretty sure the variance is quite high however, with a fair number of farms with just a few cows dragging down the mean.