The entire exchange is a phrase soup of pseudo-jargon and  mismatched metaphors.

All references go to sex and money. The conversation _appears_ to be happening while the couple are having sex. Hence, the "you are (my lover)".

"First Lover in the nighttime" is a coarse reference to the courtesy title normally awarded to spouses of higher government dignitaries.

Some users are suggesting that "bacon" is an indirect reference to policeman: that is totally believable.
 "Pig" as a euphemism for police has been self-appropriated by the very agencies that once found it a slur.

However, in this case it is   double entendre, and  given the context, the obvious meaning is more crude and sexual in intent:

It is a reference to...

[pork (verb) slang][1]

>to have sex with a person.

-The On-Line Slang dictionary

In this case,

** to have sex with a policeman.**


  [1]: http://onlineslangdictionary.com/meaning-definition-of/pork