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The focal range of 70 mm to 300 mm is a very popular choice and a variety of lenses are available in this range. The AF 70-300mm F/4-5.6 Di LD MACRO 1:2 has been on the market for quite a while and that's mainly (but not just) for its extremely low price tag.
The AF 70-300mm F/4-5.6 Di LD MACRO 1:2 is certainly meant to be used for wildlife and sports photography. The focal length of 300 mm which translates to 480 mm (effective) on an APS-C body is ideal to get close-ups of shy animals (though for pictures of birds you will likely need even more focal length). The maximum aperture of f/5.6 (at this focal length) is mediocre but to get lower f-stops you will have to spend seriously more money. At this focal length the lens is best used on a tripod because it doesn't have an image stabilizer. But alternate supports such as a bean bag are equally as good.
The focal length of 70 mm is just right for nice portraits though the maximum aperture of f/4 is a little weak for that (lenses such as the similarly priced EF 50mm f/1.8 II offer maximum apertures that are much better suited for portraits). As you will read a little further on the AF 70-300mm F/4-5.6 Di LD MACRO 1:2 fortunately shows very little distortion at 70 mm which is good news for portrait photography as well.
The AF 70-300mm F/4-5.6 Di LD MACRO 1:2's weight is less than 500 grams.