Brian Mc Enery's poem describes a small, friendly gathering. People, called "trippers," sit around tables outside and feel a quiet settle over them, a peace that seems to come from within. The speaker then has a brief, warm exchange with a man from Cork. He smiles, they chat, and he offers a "wishing well" and a "respectful little pat," small gestures that show kindness without fuss.
In the last stanza the man joins what the speaker calls "our most joyous banquet," and he reminds everyone of the knowledge they already have. That knowledge becomes the "powerful cosy blanket" of the title, an image that suggests comfort and security more than book learning. Judging by the imagery, the speaker feels content, welcomed and quietly uplifted.
The mood is gentle, calm and sociable. The simple rhymes and short lines match the easygoing scene, which suggests that real comfort comes from ordinary human connection and from trusting what we already know.