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There are also perks and racial abilities that can speed up your map travel some, but that's a whole other thing.
Other animals also count against you.
So if you have X mounted and Y foot units, optimum number of horses/war horses for speed is X + 2Y with no pack animals or herd animals. Pack and herd animals decrease the number of horses you can have without getting a herd penalty.
But when I'm on a trade run, I load up as many sumpters, mules, horses and war horses as I can get my hands on. On my last trip, I had over 700 each sumpters and mules plus another 400 horses and war horses plus some sheeps. My speed sucked -- 1.8 in the daytime across the desert. But I brought back lots of horses to sell.