You COULD use it to make cutting boards, but it's a pine wood and won't hold up well to knives, it also tends to expand & contract with moisture so glue joints will fail. Typically, cutting boards are made from hardwoods - Maple, Oak etc. Cutting boards need to be treated with food safe stains, sealers and glues. Do not use regular oil based stain or polyurethane/varnish/lacquer etc to seal. Most people use mineral oil rubbed in or food safe specific finishes available at speciality stores. There's lots of video's on making cutting boards on Youtube. Hope this helps.
I've used it both ways. For regular "stuff" I just sand, stain and poly. For a really nice finish, use sanding sealer to raise the grain, then sand, stain and poly. I use an oil based stain from MinWax, followed by several coats of Polyurethane, scuffing between coats, to finish. Hope this helps.
Framing lumber is usually 2" x 4" or 2" x 6", so is 4-6 times heavier than this wood.. This wood is a "finish grade" or "furniture" grade - no knots, very smooth finish so it requires very little to finish. It's typically used in cabinets, vanities, small furniture pieces etc. It's generally much too expensive to use for wall framing of any type.
Any wood can be cut...Are you rather asking how to cut it?