"Full" fat milk is still less than 4% fat and can legally be sold as a low fat product (IIRC 5% is teh limit for a claim of low fat)
Semi is ~2% fat and white water(aka skimmed) is < 0.5%
I recall being told we shouldn't give children anything other than full fat so they get teh full goodness of teh milk.
Whats next, collecting all "mummies milk" and semi skimming it!