While not entirely focused on horse rustlers, the film's plot revolves around a US Army cavalry regiment stationed along the Rio Grande, battling both Apaches and horse thieves, who cross the border from Mexico.
Here's why it fits your description:
* John Wayne: Stars as the commanding officer, Colonel Kirby Yorke.
* Durango: Though not explicitly mentioned, the film was shot in Monument Valley, which was a common location for Westerns set in the American Southwest and Mexico.
* Horse Rustlers: The film features horse thieves who cross the border, stealing horses from the US Army.
Hope this helps!