The maximum looting and killing range in any direction of your character (the RADIUS refers to the measurement from the centre of a circle to its edge, therefore for your character, its the distance from your character out in any direction).
Not sure what the units are (feet, metres ?)
Let's assume feet, for this example...
So, if KILL RADIUS is set to 40, then your character will attack anything it sees up to 40 feet away
if LOOT RADIUS is set to 70, then your character will loot (pick up) anything it sees up to 70 feet away