During the colorful and romantic age of the grand Missouri River steamboats, Wolf Point was a refueling stop for the big wood burners. The town began as a trading point on the Missouri River. In 1885, the Great Northern Railroad pushed into Montana and the riverboats were gone forever. In 1914, Wolf Point began a growth spurt brought on by the arrival of homesteaders. Congress opened up the Fort Peck Reservation to homesteading by non-Indians.

Today Wolf Point is a trade point for local farmers and ranchers and a center for the Sioux and Assiniboine. Wolf Point is an important area for the state for the storage of grain. Montana’s oldest pro-rodeo, the Wild Horse Stampede, is held every July. Even before the term rodeo was coined, this was an event staged by Native Americans for wild riding skills and celebration.