NCO holding loose end of material (9)

I believe the answer is:

corporeal

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'material' is the definition.
(I know that material can be written as corporeal)

'nco holding loose end' is the wordplay.
'nco' becomes 'corporal' (I've seen this before).
'holding' indicates putting letters inside.
'loose end' becomes 'e' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'corporal' going around 'e' is 'CORPOREAL'.

'of' acts as a link.

Can you help me to learn more?

(Other definitions for corporeal that I've seen before include "of flesh" , "Bodily" , "physical" , "not spiritual" , "pink material" .)

I've seen this clue in the Sydney Morning Herald.

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