Race Comment Explainer

Original comment with matches highlighted:

steadied to race in rear, ridden 2f out, ran on final furlong, never nearer

Matched phrases & meanings

Phrase	Meaning
Never nearer	The horse's closest point to the leader was the position it finished in (ran on late).
Furlong	Unit of distance; one furlong is 1/8 of a mile (approx. 200 meters).
Ran on	The horse maintained or increased its speed in the final stages.
Rear	Running near the back of the field.

Summary

The horse's closest point to the leader was the position it finished in (ran on late).
Unit of distance; one furlong is 1/8 of a mile (approx. 200 meters).
The horse maintained or increased its speed in the final stages.
Running near the back of the field.