tomcat if you were asking me, that is poplar I bought from a local sawmill. a 1000 board foot bundle is about $300. for those who don't know a board foot is 12 inches by 12 inches by 1 inch thick. it would take a little more time, but you could also use lumber recycled from pallets.
sawmill lumber buying tips:
typically the cheapest lumber is what is refered as outs. this is lumber that had to many knots for cabinet making. if you are in a position were you can use knots (like barn siding) this is a good way to start.
locally the cheapest graded lumber is poplar, it is about $400 for 1000 board feet. occasionally you can find it that has been graded and is starting to stain (turn dark) you can usually buy this for outs price. poplar also dries lightweight and is a pretty good building material.
if your trying to avoid using treated lumber, ask the mill for locust. locust is very bug and rot resistant. but its nearly impossible to drive a nail through when it dries out.
as lumber dries, it shrinks about 1/4 inch in 6 inches. cut strips and put over the cracks, this is refered to batten board. and is usually a very weather resistant and low cost building technique.
if you don't have a sawmill close, ask your lumber store if they have any culls. culls are bowed or cracked boards that they cant sell for full price. you can usually buy a stack of cull lumber for less than half its original cost. since your cutting it into short lengths the cracks and bows don't matter as much.