The speaker informs us that she was once a simple maiden living in humble, rural circumstances among friends. One day, a wealthy lord took notice of her and they developed a relationship, which she now remembers with shame and regret. He even took her to his palatial house. There, she is treated like a disposable toy. She compares her treatment to that of a glove or silk tie, reflecting that in different circumstances she could have been a valued companion—like the dove, which symbolizes loyalty and peace.
Next, addressing a woman named Kate as "cousin," the speaker remembers how Kate became the more beautiful of the two, attracting the lord's attention. The speaker was left by the wayside as the lord turned to Kate, first watching her from a distance and then inviting her into his house and his life. Kate's reputation for morality and purity made the lord want to marry her, which only made neighbors think more highly of her. Meanwhile, the same neighbors look down on the speaker because she is considered lower-status and impure. The speaker weeps in the dust while imagining Kate happy among her luxurious surroundings. She's not sure Kate is truly as good as others believe her to be, but she's certainly stronger and more capable of survival.
The speaker tells Kate that her own love for the lord was more real and enduring than Kate's. She also claims that, if their situations were reversed, she would never have married the lord at Kate's expense and would instead have denounced him for his behavior.
However, the speaker has one thing Kate doesn't. She shifts to addressing another character: her son, fathered by the lord. She tells her son to cling closer to her and observes that the lord would make sacrifices for his child, giving her a power and source of connection to him that Kate lacks.