fencewood
We have about 100 feet to cover.
My neighbor and I are splitting the cost and we want the best value for the following characteristics:
We would consider a cheaper wood and add the cost of safely treating the wood to get those characteristics. (We have kids and pets and don't want chemicals fro the treatment to harm them)
Home Depot has a pretty good guide for building wire fences. If you prefer a post and rail look, you could always add a few rails to the design. It would make it look a little better and add some strength as well.
The result might look something like this:
I recently built my own garden fence from chicken wire and cedar. It managed deflect a 'direct hit' from my 80 lb. dog running full tilt. (I made the mistake of letting her in the backyard right after I finished it. It was dark out and she couldn't see the wires.) She's not a jumper, so we only had to make the fence 3' tall.
Here's the fence in progress, with 80 lb dog for size reference:
I would recommend something that is dimensionally stable, resistant to rot and easy to work, like cherry, chestnut or walnut - for an outdoor food preparation surface, any tight-grained hardwood will work. (See also the "Wood Picker" app)
Fine woodwork that's meant to be kept exposed to the elements should be protected with a marine-grade spar varnish. This requires a bit more effort and care to apply, and will require periodic maintenance - google "brightwork", which is the art of applying finish to wooden structures on boats. There have been entire books written on the topic, but here's an article to get you started.
Best Answer
No natural wood that I know of will resist termites. Cedar lasts best in Texas. I think redwood may outlast cedar but is considerably more expensive, at least around here. My 6' tall privacy fence has galvanized steel posts, 2x4 pressure treated rails and cedar slats.