Lyric discussion by moreproductive 

the speaker is pledging a life of service to his lord, but recognizes his futility as a farmer to avoid thoughts (and even acts) of sexuality

In my opinion it sounds like a gay man's love song to women. there's an element of repression and bravado when he says that a humble ("sheepish", "barely able to say it [sex?]") man's life is his job and sex ("plough" and "pussy"). He conjures up a lot of sexual images, like your average heterosexual man is accustomed to ("your shirt is torn to ribbons"), but at the end of the day he just keeps himself "pious" and chaste, and asks "Woman, can I take you as a friend?"....

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