Zed is dead, that's one less pig

from Yo! Ayy. TEE. – Moonstruck Lyrics on Rap Genius

Meaning

This is a reference to Pulp Fiction. These are the famous words of Bruce Willis' character, Butch Coolidge, after one of the craziest scenes in the entire movie.
http://www.youtube.com/watch?v=y7Yp2L6c2KM

To help improve the meaning of these lyrics, visit “Moonstruck” by Yo! Ayy. TEE. Lyrics and leave a comment on the lyrics box