I bought a case of Graf labeled powder last year, and it was made by GOEX. A few years earlier, I bought a pound of Graf locally, and it was made by Schuetzen.
On the web site, current Graf label is made by Schuetzen black powder.
So Graf changes, you have to read the label. I did not like the Schuetzen black powder myself. I think Swiss is the best, then GOEX, then Schuetzen.