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They finished four shots behind the winning team of Bailey Smith (Bay of Plenty) and Compton Pikari (Waikato), who trailed at lunch with a 1-over-par 73 in the first round.
Bailey Smith took advantage of playing on his home course, helping the duo to a 7-under-par 65 in the afternoon to take the title.
Hitting off from alternate tees, McEwan and Michael Smith combined well in the morning with five birdies and two bogeys in their 3-under 69.
The birdie tally was reduced to three in the afternoon and the pair had a disastrous four-putt on the par-3 fourth green to lose touch.
The second is the best Otago placing for many years and augurs well when the pair represent Otago in the Grant Clements Memorial at Mt Maunganui today and tomorrow.
The pair thoroughly enjoyed a rare foursomes outing and would support the reinstatement of the Otago foursomes championship, which has been in limbo for more than two decades.