My reasons for using LT instead of ST on trailers:
1. ST tires seem to be a neglected segment of the industry, left to the low cost players in the market who make little to no effort on R&D or quality control. Most seem to come from poor quality manufacturers, typically based in China, and some of their models have reputations for blow outs. Even if you can find a brand name, the story seems to be the same.
2. ST tires by definition are speed limited to 65 mph, unless otherwise indicated. Even if I tow at 65 mph, I would much rather have a tire that is capable to 100 mph or beyond (extra safety margin), versus being right at the limit for hours on end.
3. ST tire weight limits are typically engineered with little to no margin of error. LT tires need to have a big safety margin built in. (Perhaps Capriracer can clarify and/or correct this)
4. No real cost difference. For the two trailers I used them on, the first one, I replaced a hard to find ST size (making those tires more expensive), with a slightly easier to find size, with the added benefit of greatly increasing the load capacity (trailer manufacturer picked tires barely capable) as I had to upsize, and had an additional benefit of moving me away from bias ply to radial. No real cost difference for the rubber. My newer large trailer, while I didn't have the need to greatly increase my load capacity or move away from bias ply, I actually got the tires for far less cost versus ST, done through some careful shopping - sourcing Coopers that were rebranded for a chain, and taking advantage of a 25% off sale along with additional bonus savings with in-store credit.
5. Peace of mind. With proper tire maintenance, I don't really worry about the LT tires, but even with proper maintenance, I am always worrying using ST tires.
For the LT naysayers, they sometimes raise these points, but I can easily counter them:
1. ST tires are less likely to have a flat spot from sitting for long periods. My counter is that even if LT tires develop these, they quickly disappear within a few miles, and are nothing like the flat spots that developed in years gone by.
2. The rubber in ST tires are more resistant to UV during extended parking, as LT tires need to be in use to release the compounds that resist UV. Not a problem for me in the summer, and during storage, simply cover up and/or use something like 303 Aerospace Protectant.
3. LT tires aren't made for trailers. True, they are engineered to a higher degree for light trucks. On top of that, some major tire manufacturers recommend their LT tires for trailer applications, and there are many trailers that come with LT tires from the factory.
There may be some applications where there just isn't an LT option, but there there is, I don't see any good reason why to stick with ST tires.