CAT 5 has 8 strands of wire, each one is a 22 gauge (i believe) single wire. I use it in my cab because I can get it for free at work. I would recommend using a multistrand wire, more like speaker wire for your control panel. The CAT5 has the same performance, but it is more likely to break than a mult-strand wire.
If you do buy CAT5, I know they sell it at Lowes, Home Depot for a reasonable price.