Mine anger was (is) kindled against the shepherds. These heathen rulers were indeed God's instruments in punishing his people, but they had exceeded their commission, and afflicted Israel in order to carry out their own evil designs, and now they themselves shall be chastised.
Some commentators raise "the shepherds" to be the rulers of Israel civil and ecclesiastical, comparing Ezekiel 34:2, Ezekiel 34:5, etc. But the context leads us to consider them as those who took the place of rulers of Israel when she had no shepherd of her own (Ezekiel 34:2).
I punished (will punish) the goats (bellwethers); literally, will visit upon; i.e. will chastise. The same word (paquad) is used in the next clause in a good sense. The "goats" are the leading men, those powerful for evil, as Isaiah 14:9.
Hath visited his flock. The reason why the evil shepherds are punished is because God visits his flock in love and care, to see their state and to relieve them from trouble (Zephaniah 2:7). The house of Judah here includes all the nation, to which it afterwards gave its name.
Hath made (shall make) them as his goodly horse. The Israelites shall not only be delivered from oppression, but God shall use them as a stately war horse, richly caparisoned, to tread down enemies and triumph ever them.
So he said before (Zechariah 9:13) that he would make Judah his bow and Ephraim his arrow. (For a description of the war horse, see Job 39:19-25; comp. Revelation 6:2; Revelation 19:14, where Christ is represented riding on a white horse, and his saints following him on white horses.