At risk of stating the obvious, any link or connection starts at a port on your local host and ends on some port on remote hosts (or vice versa). That's what the two mean. Example from my node:
Proto Recv-Q Send-Q Local Address Foreign Address State
tcp 0 0 10.1.1.1:43025 unix.com:http ESTABLISHED
Disregarding the first three columns it states that there's an established connection from my node on my private net using port 43025 to unix.com 's www port, used for exactly the actual session.