The most common and most likely answer to this crossword clue is the 5 letter word MUNGO
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Buddy explains!
The straight part
We know that "Some waste" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case some waste = mungo.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does MUNGO mean?
MUNGO noun- A material of short fiber and inferior quality obtained by deviling woollen rags or the remnants of woollen goods, specifically those of felted, milled, or hard-spun woollen cloth, as distinguished from shoddy, or the deviled product of loose-textured woollen goods or worsted.