Yes, parchment paper will work. I't just much more expensive in the long run if you plan on wrapping in paper every time you cook.
Just for the record, there is a difference between white butcher paper and freezer paper. Butcher paper comes in red, natural and white. All will work for cooking. Just make sure it's not coated with any thing. You'll know by how it feels if it has any kind of coating. I have a roll of white butcher paper and it works just fine.
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