The speaker feels at home in the soil. "Dirt-drunk" suggests a giddy, slightly dizzy intoxication with the earth itself, and the speaker finds "company" not among people but out in the fields. The title, "Glebe," is an old word for land belonging to a church or a piece of cultivated ground, which fits this rooted, earthy setting.
The second stanza is stranger and more puzzling. "Giving nothing roundly" could mean giving nothing back, or holding back completely, with "roundly" suggesting a thorough, rounded refusal. Then the speaker says they live "like a pig or a knot." A pig wallows contentedly in mud; a knot is tight, inward, and stubborn. Together the images suggest a life that is simple, bodily, and a little closed off.
The mood is earthy and solitary, with a hint of self-mockery. The speaker seems both happy and unashamed to be low to the ground, though the poem leaves it open whether this is contentment or a kind of withdrawal.