Emulsions are provided which are useful in imparting water-resistance to lignocellulosic products. In one embodiment, the emulsions contain a nonsaponifiable wax, a saponified wax, an alkyl phenol component, a dispersant/surfactant such as a salt of polynaphthalenesulfonic acid, and a carboxymethylcellulose. Such emulsions may be added to hot, even boiling, water without the emulsion separating of curdling. Various embodiments are stable for extended periods of time when stored at room temperature, do not require the addition of a preservative biocide to avoid contributing to biodegradation in a lignocellulosic product. The emulsions are pourable liquids at room temperature. Optionally, the emulsions may be added to lignocellulosic products with a preservative to inhibit the preservative from leaching out.