I used primer, which sealed the wood really well. Then to be thorough, I painted the primered wood with water-proof deck paint. My oak plywood water-sealed rack is indestructible now. lol. Seriously though, If you can, get a cage done with PVC. I only used wood as a second choice, because I couldn't afford the ridiculous shipping charges for PVC sheets.
If you do go with wood, use ¾" oak plywood, it is smooth and very, very strong. It is easy to seal with primer and deck paint. Boom, done.