What is the benefit of raising horses if not for breeding?

Pardon my ignorance, but what do you benefit from raising horses on a farm if not for breeding or offering trail riding?
Cows, pigs, sheep, etc, I know those are for meat, milk, wool, but horses?

There are a number of benefits for raising horses – they can be ridden or trained and sold for riding, they can be used to "work" cattle or for other working jobs.

Additionally, there are other products that horses are used for. For example, pregnant mare urine (as gross as it sounds), is one of the predominant sources of insulin to treat diabetes.