Exactly! Of course they're not JUST food, but when it's eat your horse or die of starvation, the choice is obvious.
And there's plenty of historical examples of just this very thing happening.
My mother bred horses. I have a lot of experience with working with them and know very well the personal bond which can develop - each and every animal had it's own name and certainly their own personality. Some I would absolutely HATE to have to slaughter even if it my life on the line, others, "pass me the knife, that bitch has got to DIE!"