Sad quality of cad squeezing round part of Lorraine (9)
I believe the answer is:
poignancy
'sad quality' is the definition.
'cad squeezing round part of lorraine' is the wordplay.
'cad' becomes 'pig' (both can mean a dishonest or unpleasant person).
'squeezing' indicates putting letters inside (squeeze can mean hug or embrace).
'round' becomes 'o' (round can mean a round object).
'part of lorraine' becomes 'nancy' (city in the Lorraine region of France).
'pig' enclosing 'o' is 'poig'.
'poig'+'nancy'='POIGNANCY'
'of' is the link.
(Other definitions for poignancy that I've seen before include "Sadness" , "Quality that can touch or move" , "sentiment" , "such a rueful thing" .)