Lovely paper in daily, lacking content (6)
I believe the answer is:
dreamy
'lovely' is the definition.
(I've seen this before)
'paper in daily lacking content' is the wordplay.
'paper' becomes 'ream' (I've seen this before).
'in' is an insertion indicator.
'lacking content' suggests removing the centre (the content of the word is emptied out).
'daily' with its middle removed is 'dy'.
'ream' inserted inside 'dy' is 'DREAMY'.
(Other definitions for dreamy that I've seen before include "quite impractical" , "Lovely" , "Misty" , "My dear (anag.)" , "Unreal -- gorgeous" .)