UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549

                           FORM 10-Q

[X]   Quarterly  report pursuant to Section 13 or  15(d)  of  the
Securities Exchange Act of 1934
For the quarterly period ended September 30, 2000 or

[  ]   Transition report pursuant to Section 13 or 15(d)  of  the
Securities Exchange Act of 1934
For the transition period from ________________to_____________

Commission file number 0-23577

    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERHSIP

     (Exact name of registrant as specified in its charter)


          Delaware                                13-3461507
(State or other jurisdiction of                (I.R.S. Employer
incorporation or organization)                     Identification
No.)


c/o Demeter Management Corporation
Two World Trade Center, 62 Fl., New York, NY        10048
(Address of principal executive offices)               (Zip Code)


Registrant's telephone number, including area code (212) 392-5454



(Former  name, former address, and former fiscal year, if changed
since last report)


Indicate  by check-mark whether the registrant (1) has filed  all
reports  required  to be filed by Section  13  or  15(d)  of  the
Securities  Exchange Act of 1934 during the preceding  12  months
(or  for such shorter period that the registrant was required  to
file  such  reports),  and (2) has been subject  to  such  filing
requirements for the past 90 days.


Yes    X            No___________



<PAGE>
<TABLE>

    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP

             INDEX TO QUARTERLY REPORT ON FORM 10-Q

                     September 30, 2000

<CAPTION>
PART I. FINANCIAL INFORMATION
<S>                                                      <C>
Item 1. Financial Statements

     Statements of Financial Condition September 30, 2000
     (Unaudited) and December 31, 1999.....................2

     Statements of Operations for the Quarters Ended
     September 30, 2000 and 1999 (Unaudited)...............3

     Statements of Operations for the Nine Months Ended
     September 30, 2000 and 1999 (Unaudited)...............4

     Statements of Changes in Partners' Capital for the
        Nine Months ended September 30, 2000 and 1999
     (Unaudited)...........................................5

     Statements of Cash Flows for the Nine Months Ended
     September 30, 2000 and 1999 (Unaudited)...............6

        Notes to Financial Statements (Unaudited)..........7-12

Item 2. Management's Discussion and Analysis of

Financial Condition and Results of Operations..13-24

Item 3. Quantitative and Qualitative Disclosures about
        Market Risk ...................................24-35

Part II. OTHER INFORMATION

Item 1. Legal Proceedings.................................36

Item 6. Exhibits and Reports on Form 8-K...............36-37






</TABLE>



<PAGE>
<TABLE>
                 PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP
               STATEMENTS OF FINANCIAL CONDITION


<CAPTION>
                                   September 30,   December 31,

2000                                1999
                                         $              $
                                    (Unaudited)
ASSETS
<S>                                                    <C>  <C>
Equity in futures interests trading accounts:
 Cash                             66,754,296       92,093,924

   Net   unrealized   gain   on  open  contracts   (MS   &   Co.)
6,116,069                                -
    Net    unrealized    gain    on   open    contracts    (MSIL)
905,926                                -
    Net    unrealized    gain    on   open    contracts    (Carr)
-                                    1,601,939

  Total  net  unrealized gain on open contracts   7,021,995     1
,601,939

      Total Trading Equity        73,776,291       93,695,863

Interest receivable (DWR)            304,683          312,680

      Total Assets                  74,080,974     94,008,543

LIABILITIES AND PARTNERS' CAPITAL

Liabilities

 Redemptions payable               1,262,316        2,015,683
 Accrued management fees (DWFCM)     188,409          229,326
 Administrative expenses payable      163,519         114,311

      Total Liabilities            1,614,244        2,359,320

Partners' Capital

 Limited Partners (76,472.893 and
   92,865.334 Units, respectively)  70,909,610   89,453,674
 General Partner (1,679.285 and
       2,279.285 Units, respectively)    1,557,120     2,195,549

 Total Partners' Capital            72,466,730   91,649,223

  Total  Liabilities and Partners' Capital    74,080,974    94,00
8,543

NET ASSET VALUE PER UNIT             927.25            963.26

<FN>
          The accompanying notes are an integral part
                 of these financial statements.
</TABLE>
<PAGE>
<TABLE>
    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP
                    STATEMENTS OF OPERATIONS
                           (Unaudited)

<CAPTION>

                              For the Quarters Ended September 30,


2000                                   1999

$                                                      $


REVENUES
<S>
<C>                                  <C>
 Trading profit (loss):
       Realized                       (17,154,138)      3,791,060
Net change in unrealized          10,848,691      635,298
      Total Trading Results      (6,305,447)    4,426,358
    Interest Income (DWR)            923,271      980,971
      Total Revenues             (5,382,176)    5,407,329

EXPENSES

     Brokerage   commissions  (DWR)        986,028      1,689,884
 Management fees (DWFCM)            583,884      789,177
     Administrative expenses         47,000        36,000
     Transaction  fees  and  costs         40,677         116,184
 Total Expenses                   1,657,589    2,631,245

NET INCOME (LOSS)                (7,039,765)    2,776,084

NET INCOME (LOSS) ALLOCATION

      Limited   Partners               (6,895,312)      2,715,472
General Partner                    (144,453)       60,612

NET INCOME (LOSS) PER UNIT

      Limited   Partners                   (86.02)          26.58
General Partner                      (86.02)        26.58

<FN>
          The accompanying notes are an integral part
                 of these financial statements.
</TABLE>



<PAGE>
<TABLE>
    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP
                    STATEMENTS OF OPERATIONS
                           (Unaudited)


<CAPTION>


                            For the Nine Months Ended September 30,

                                        2000        1999
                                          $            $

REVENUES
<S>
<C>                                 <C>
 Trading profit (loss):
               Realized                               (4,934,411)
(2,954,881)                                                   Net
change in unrealized               5,420,056     1,725,281

            Total      Trading      Results               485,645
(1,229,600)
    Interest Income (DWR)          2,844,681      3,029,314
      Total Revenues               3,330,326       1,799,714

EXPENSES

      Brokerage   commissions  (DWR)      3,678,493     5,454,584
Management   fees   (DWFCM)              1,901,017      2,549,084
Transaction   fees   and   costs             229,994      396,934
Administrative expenses              121,000        109,000
      Total Expenses               5,930,504      8,509,602

NET LOSS                         (2,600,178)   (6,709,888)

NET LOSS ALLOCATION

      Limited   Partners               (2,569,711)    (6,581,923)
General Partner                     (30,467)    (127,965)

NET LOSS PER UNIT

      Limited   Partners                   (36.01)        (56.15)
General Partner                      (36.01)      (56.15)


<FN>

          The accompanying notes are an integral part
                 of these financial statements.
</TABLE>
<PAGE>
<TABLE>
    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP
           STATEMENTS OF CHANGES IN PARTNERS' CAPITAL
     For the Nine Months Ended September 30, 2000 and 1999
                          (Unaudited)


<CAPTION>


                          Units of
                        Partnership Limited   General
                          Interest   Partners Partner    Total



<S>
<C>                            <C>                            <C>
<C>
Partners' Capital,
  December  31, 1998  117,935.784  $125,375,751        $2,470,826
$127,846,577

Net                                                          Loss
-                                  (6,581,923)          (127,965)
(6,709,888)

Redemptions              (17,568.921)                (17,970,281)
-                                  (17,970,281)

Partners' Capital,
  September  30, 1999 100,366.863    $100,823,547      $2,342,861
$103,166,408



Partners' Capital,
    December   31,   1999       95,144.619            $89,453,674
$2,195,549                       $91,649,223

Net                                                          Loss
-                                                     (2,569,711)
(30,467)                         (2,600,178)
Redemptions              (16,992.441)                (15,974,353)
(607,962)                         (16,582,315)

Partners' Capital,
  September  30, 2000   78,152.178   $70,909,610       $1,557,120
$72,466,730







<FN>







           The accompanying notes are an integral part
                 of these financial statements.
</TABLE>

<PAGE>
<TABLE>

    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP
                    STATEMENTS OF CASH FLOWS
                           (Unaudited)


<CAPTION>


                            For the Nine Months Ended September 30,

                                       2000           1999
                                          $             $
CASH FLOWS FROM OPERATING ACTIVITIES
<S>
<C>                              <C>
   Net   loss:                         (2,600,178)              (
6,709,888)
 Noncash item included in net loss:
      Net  change  in  unrealized       (5,420,056)             (
1,725,281)
 (Increase) decrease in operating assets:
    Interest receivable (DWR)           7,997            57,661
                     Due                 from                 DWR
-                                    (50,130)
 Increase (decrease) in operating liabilities:
        Accrued     management     fees     (DWFCM)      (40,917)
(49,084)
Administrative        expenses       payable               49,208
38,272

   Net   cash   used   for  operating  activities     (8,003,946)
(8,438,450)

CASH FLOWS FROM FINANCING ACTIVITIES

    Increase    (decrease)   in   redemptions    payable(753,367)
297,409
Redemptions        of       Units                    (16,582,315)
(17,970,281)
   Net   cash   used   for  financing  activities    (17,335,682)
(17,672,872)
   Net  decrease  in  cash             (25,339,628)             (
26,111,322)
     Balance     at    beginning    of    period       92,093,924
127,547,473
     Balance     at    end    of    period             66,754,296
101,436,151



<FN>






          The accompanying notes are an integral part
                 of these financial statements.

</TABLE>
<PAGE>
     DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS


                           (UNAUDITED)

The  unaudited financial statements combined herein  include,  in

the  opinion of management, all adjustments necessary for a  fair

presentation of the results of operations and financial condition

of  Dean Witter Diversified Futures Fund Limited Partnership (the

"Partnership").  The  financial statements  and  condensed  notes

herein  should  be  read  in conjunction with  the  Partnership's

December 31, 1999 Annual Report on Form 10-K.


1. Organization

Dean  Witter  Diversified Futures Fund Limited Partnership  is  a

Delaware limited partnership organized to engage primarily in the

speculative  trading  of futures and forward contracts,  physical

commodities  and  other  commodity  interests  including  foreign

currencies,  financial instruments, metals, energy  products  and

agriculturals (collectively, "futures interests").



The  general  partner for the Partnership is  Demeter  Management

Corporation  ("Demeter").  The non-clearing commodity  broker  is

Dean  Witter Reynolds Inc. ("DWR").  Morgan Stanley &  Co.,  Inc.

("MS  &  Co.")  and  Morgan Stanley & Co.  International  Limited

("MSIL")  provide clearing and execution services.   The  trading

manager is Dean Witter Futures & Currency Management Inc.



<PAGE>

    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP
            NOTES TO FINANCIAL STATEMENTS (CONTINUED)


("DWFCM" or the "Trading Manager").  Demeter, DWR, MS & Co., MSIL

and  DWFCM  are wholly-owned subsidiaries of Morgan Stanley  Dean

Witter & Co.



2. Related Party Transactions

The Partnership's cash is on deposit with DWR, MS & Co., and MSIL

in futures interests trading accounts to meet margin requirements

as needed. DWR pays interest on these funds based on a prevailing

rate  on  U.S.  Treasury  bills. The Partnership  pays  brokerage

commissions  to  DWR.   Management and incentive  fees  (if  any)

incurred by the Partnership are paid to DWFCM.



3.  Financial Instruments

The  Partnership  trades futures and forward contracts,  physical

commodities  and  other  commodity  interests  including  foreign

currencies,  financial instruments, metals, energy  products  and

agriculturals.   Futures  and forwards  represent  contracts  for

delayed delivery of an instrument at a specified date and  price.

Risk arises from changes in the value of these contracts and  the

potential inability of counterparties to perform under the  terms

of   the  contracts.   There  are  numerous  factors  which   may

significantly  influence  the market value  of  these  contracts,

including interest rate volatility.



<PAGE>
    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP
            NOTES TO FINANCIAL STATEMENTS (CONTINUED)




In  June  1998, the Financial Accounting Standards Board ("FASB")

issued  Statement of Financial Accounting Standard  ("SFAS")  No.

133,   "Accounting   for  Derivative  Instruments   and   Hedging

Activities" effective for fiscal years beginning after  June  15,

2000,  as  amended by SFAS No. 137. The Partnership  adopted  the

provisions  of SFAS No. 133 beginning with the fiscal year  ended

December  31,  1998.  SFAS No. 133 superceded SFAS Nos.  119  and

105,  which  required  the disclosure of average  aggregate  fair

values  and contract/notional values, respectively, of derivative

financial  instruments for an entity that carries its  assets  at

fair  value.  SFAS No. 133 was further amended by SFAS  No.  138,

which  clarifies issues surrounding interest rate  risk,  foreign

currency  denominations,  normal  purchases  and  sales  and  net

hedging.  The application of SFAS No. 133, as amended by SFAS No.

137,  did  not  have  a significant effect on  the  Partnership's

financial  statements, nor will the application of the provisions

of  SFAS  No.  138 have a significant effect on the Partnership's

financial statements.



SFAS  No.  133 defines a derivative as a financial instrument  or

other   contract   that   has  all   three   of   the   following

characteristics:



<PAGE>
    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP
            NOTES TO FINANCIAL STATEMENTS (CONTINUED)


  1)    One  or  more  underlying  notional  amounts  or  payment

     provisions;

2)   Requires no initial net investment or a smaller initial net
investment than would be required relative to changes in market
factors;
3)   Terms require or permit net settlement.


Generally derivatives include futures, forwards, swaps or  option

contracts,   or   other   financial  instruments   with   similar

characteristics such as caps, floors and collars.



The  net  unrealized  gain on open contracts  is  reported  as  a

component  of  "Equity in futures interests trading accounts"  on

the  statements of financial condition and totaled $7,021,995 and

$1,601,939  at  September  30,  2000  and  December   31,   1999,

respectively.



Of  the  $7,021,995  net unrealized gain  on  open  contracts  at

September  30, 2000, $926,409 related to exchange-traded  futures

contracts  and $6,095,586 related to off-exchange-traded  forward

currency contracts.







<PAGE>
    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP
            NOTES TO FINANCIAL STATEMENTS (CONTINUED)




Of  the  $1,601,939  net unrealized gain  on  open  contracts  at

December 31, 1999, $1,280,887 related to exchange-traded futures

contracts  and  $321,052  related to off-exchange-traded  forward

currency contracts.



Exchange-traded  futures contracts held  by  the  Partnership  at

September 30, 2000 and December 31, 1999 mature through  December

2001   and   September  2000,  respectively.  Off-exchange-traded

forward  currency contracts held by the Partnership at  September

30,  2000 and December 31, 1999 mature through November 2000  and

March 2000, respectively.



The  Partnership  has  credit risk associated  with  counterparty

nonperformance.  The credit risk associated with the  instruments

in  which  the Partnership is involved is limited to the  amounts

reflected in the Partnership's statements of financial condition.



The  Partnership also has credit risk because DWR, MS & Co.,  and

MSIL   act   as   the   futures  commission  merchants   or   the

counterparties with respect to most of the Partnership's  assets.

Exchange-traded futures contracts are marked to market on a daily

basis,  with variations in value settled on a daily basis.   DWR,

MS  & Co., and MSIL each as a futures commission merchant for the

Partnership's

<PAGE>

    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP
            NOTES TO FINANCIAL STATEMENTS (CONCLUDED)




exchange-traded  futures  contracts, are  required,  pursuant  to

regulations of the Commodity Futures Trading Commission ("CFTC"),

to  segregate from their own assets, and for the sole benefit  of

their commodity customers, all funds held by them with respect to

exchange-traded futures contracts, including an amount  equal  to

the  net  unrealized  gain on all open futures  contracts,  which

funds,  in the aggregate, totaled $67,680,705 and $93,374,811  at

September  30,  2000  and December 31, 1999,  respectively.  With

respect to the Partnership's off-exchange-traded forward currency

contracts, there are no daily settlements of variations in  value

nor  is  there any requirement that an amount equal  to  the  net

unrealized  gain  on open forward contracts be segregated.   With

respect  to those off-exchange-traded forward currency contracts,

the  Partnership is at risk to the ability of MS & Co., the  sole

counterparty   on  all  of  such  contracts,  to   perform.   The

Partnership  has  a  netting  agreement  with  MS  &  Co.    This

agreement, which seeks to reduce both the Partnership's and MS  &

Co.'s exposure on off-exchange-traded forward currency contracts,

should  materially decrease the Partnership's credit risk in  the

event of MS & Co.'s bankruptcy or insolvency.







<PAGE>
Item   2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL
CONDITION AND RESULTS OF OPERATIONS

Liquidity - The Partnership deposits its assets with DWR as  non-

clearing  broker  and  MS & Co. and MSIL as clearing  brokers  in

separate  futures trading accounts established  for  the  Trading

Manager,  which assets are used as margin to engage  in  trading.

The  assets are held in either non-interest-bearing bank accounts

or  in  securities  and instruments permitted  by  the  CFTC  for

investment   of  customer  segregated  or  secured  funds.    The

Partnership's assets held by the commodity brokers may be used as

margin   solely  for  the  Partnership's  trading.    Since   the

Partnership's  sole purpose is to trade in futures and  forwards,

it  is  expected that the Partnership will continue to  own  such

liquid assets for margin purposes.



The  Partnership's investment in futures and forwards  may,  from

time  to  time,  be illiquid.  Most U.S. futures exchanges  limit

fluctuations  in  prices  during  a  single  day  by  regulations

referred  to  as  "daily  price fluctuations  limits"  or  "daily

limits".   Trades may not be executed at prices beyond the  daily

limit.   If  the  price  for a particular  futures  contract  has

increased  or  decreased by an amount equal to the  daily  limit,

positions  in  that  futures contract can neither  be  taken  nor

liquidated  unless  traders are willing to effect  trades  at  or

within  the  limit.  Futures prices have occasionally  moved  the

daily  limit  for several consecutive days  with  little   or  no

trading.  These market conditions could





<PAGE>

prevent  the  Partnership from promptly liquidating  its  futures

contracts and result in restrictions on redemptions.



There  is  no limitation on daily price moves in trading  forward

contracts  on  foreign currencies.  The markets  for  some  world

currencies  have low trading volume and are illiquid,  which  may

prevent  the  Partnership from trading in potentially  profitable

markets  or  prevent  the Partnership from  promptly  liquidating

unfavorable  positions  in  such markets  and  subjecting  it  to

substantial  losses.   Either of these  market  conditions  could

result in restrictions on redemptions.



The  Partnership  has  never had illiquidity  affect  a  material

portion of its assets.



Capital  Resources. The Partnership does not have, or  expect  to

have,  any  capital assets.  Redemptions of additional  units  of

limited  partnership  interest ("Unit(s)")  in  the  future  will

affect  the  amount of funds available for investment in  futures

interests in subsequent periods.  It is not possible to  estimate

the  amount  and  therefore, the impact of future redemptions  of

Units.



Results of Operations

General.  The Partnership's results depend on its Trading Manager

and the ability of the Trading Manager's trading programs to take

advantage of price movements or other profit opportunities in the

<PAGE>

futures  and forwards markets.  The following presents a  summary

of  the Partnership's operations for the quarters and nine months

ended  September 30, 2000 and 1999, respectively, and  a  general

discussion of its trading activities during each period.   It  is

important  to note, however, that the Trading Manager  trades  in

various markets at different times and that prior activity  in  a

particular market does not mean that such market will be actively

traded  by  the  Trading Manager or will  be  profitable  in  the

future.   Consequently,  the  results  of   operations   of   the

Partnership are difficult to discuss other than in the context of

its  Trading  Manager's  trading  activities  on  behalf  of  the

Partnership  as a whole and how the Partnership has performed  in

the past.



For the Quarter and Nine Months Ended September 30, 2000

For  the  quarter  ended  September  30,  2000,  the  Partnership

recorded  total  trading  losses,  net  of  interest  income   of

$(5,382,176) and posted a decrease in Net Asset Value  per  Unit.

The  most  significant losses of approximately 4.2% were recorded

in  the  energy markets primarily during July from  long  futures

positions  in  crude  oil as prices reversed lower  amid  growing

conviction that Saudi Arabia would follow through with  a  pledge

to  boost production.  Additional losses were experienced  during

July  and  August from long positions in natural gas  futures  as

prices retreated on higher-than-expected inventory numbers,  mild

weather and technical selling attributed to the decline in  crude

oil prices.  In soft commodities, losses of approximately 3.0%

<PAGE>

were  incurred primarily during July from previously  established

short  positions and subsequent long positions in coffee  futures

as  prices  traded  in an extremely volatile pattern  on  weather

related  concerns  for Brazil.  Additional losses  were  recorded

primarily  during July from short positions in cotton futures  as

prices moved higher amid fears that the dryness and heat in Texas

would  slash  the size of the U.S. crop.  In the global  interest

rates   futures  markets,  losses  of  approximately  2.9%   were

experienced  primarily during September from short  positions  in

Japanese interest rate futures as bond prices surged as investors

sought  refuge from declining stock prices in the U.S. and Japan.

Additional losses were recorded from long positions in Australian

interest  rate futures as prices declined, mirroring  a  drop  in

U.S. Treasury prices.  In the global stock index futures markets,

losses of approximately 2.6% were recorded during late July  from

long  positions  in S&P 500 Index futures as prices  declined  on

fears  of  additional interest rate hikes in the U.S. and  Europe

and during September due to jitters in the technology industry as

well  as  from an overall concern regarding the oil markets.   In

the  metals  markets, losses of approximately 0.1% were  recorded

throughout  a majority of the quarter from long aluminum  futures

positions  as  prices  declined  amid  currency  and  oil   price

fluctuations  and on fears that the global economy could  be  set

for  a  growth  slowdown.  These losses were mitigated  by  gains

recorded primarily during mid-September from long copper  futures

positions as prices rose higher due to a rise in COMEX copper

<PAGE>

stocks.  A portion of the Partnership's overall losses was offset

by  gains of approximately 3.7% recorded in the currency  markets

primarily  during  September from short  positions  in  the  euro

relative  to the British pound as prices were pushed lower  on  a

lack  of  European  support for the common currency.   Additional

gains  were  recorded  during July and  September  from  a  short

Japanese  yen  position  as its value weakened  versus  the  U.S.

dollar on a weaker Japanese stock market, corporate failures  and

overall  strengthening of the U.S dollar. Total expenses for  the

three  months ended September 30, 2000 were $1,657,589, resulting

in  a net loss of $7,039,765.  The value of a Unit decreased from

$1,013.27 at June 30, 2000 to $927.25 at September 30, 2000.



For  the  nine  months ended September 30, 2000, the  Partnership

recorded  total  trading revenues including  interest  income  of

$3,330,326  and, after expenses, posted a decrease in  Net  Asset

Value  per  Unit.   The most significant losses of  approximately

10.2%  were recorded in the global interest rate futures  markets

primarily throughout a majority of the second quarter, as well as

during  July,  from  short positions in German  bund  futures  as

prices  were pushed higher by a rise in U.S. prices.   Additional

losses   were  incurred  primarily  during  February  from   long

positions in Japanese government bond futures as prices decreased

in  response  to the yen's weakness and the perception  in  Japan

that, despite a zero interest rate policy, 10-year interest rates

are too low.  During September, losses were also recorded from

<PAGE>

short  positions in Japanese interest rate futures as bond prices

surged as investors sought refuge from declining stock prices  in

the  U.S.  and Japan.  In the global stock index futures markets,

losses  of approximately 5.6% were incurred throughout a majority

of  the  first quarter and during April, late July and  September

from  long  positions in S&P 500 Index futures as domestic  stock

prices  declined due to volatility in the technology  sector  and

fears  that the Federal Reserve will be forced to take aggressive

action  to  slow  the  economy.  In soft commodities,  losses  of

approximately 2.9% were incurred primarily during July from short

positions  in  cotton futures as prices moved higher  amid  fears

that  the dryness and heat in Texas would slash the size  of  the

U.S.  crop.  In the metals markets, losses of approximately  2.1%

were  recorded  throughout a majority of the third  quarter  from

long  aluminum futures positions as prices declined amid currency

and  oil  price fluctuations and on fears that the global economy

could   be  set  for  a  growth  slowdown.   A  portion  of   the

Partnership's overall losses was offset by gains of approximately

11.3%  recorded in the energy markets primarily during  May  from

long  positions in natural gas futures as prices continued  their

upward  trend on fears that inventory levels remain low and  that

U.S.  demand  will  outstrip production.  Additional  gains  were

recorded during February from long positions in crude oil futures

as  prices  increased  due  to  a combination  of  cold  weather,

declining  inventories and increasing demand.   Oil  prices  also

increased during June in reaction to the dismissal by OPEC of

<PAGE>

a  price  setting  mechanism  and a  promise  of  only  a  modest

production   increase.   In  the  currency  markets,   gains   of

approximately  4.5% were recorded primarily during  March,  April

and  September from short positions in the euro as the  value  of

the  European common currency weakened versus the U.S. dollar and

British pound on a lack of European support.  Offsetting currency

losses were experienced during March as the value of the Japanese

yen reversed higher versus the U.S. dollar, despite dollar buying

intervention  by the Bank of Japan on two occasions  during  that

month.   During  April  and  early-May,  additional  losses  were

recorded  from long positions in the Japanese yen  as  its  value

weakened  relative to the U.S. dollar amid fears of an additional

Bank  of  Japan intervention and as Japanese consumer  confidence

remained  sluggish.   In  the  agricultural  markets,  gains   of

approximately 1.2% were recorded primarily during June  and  July

from  short corn futures positions as corn prices were  pressured

lower  by  a  damp  weather forecast in the U.S.  Midwest.  Total

expenses  for  the  nine  months ended September  30,  2000  were

$5,930,504, resulting in a net loss of $2,600,178.  The value  of

a  Unit decreased from $963.26 at December 31, 1999 to $927.25 at

September 30, 2000.



For the Quarter and Nine months Ended September 30, 1999

For  the  quarter  ended  September  30,  1999,  the  Partnership

recorded  total  trading revenues including  interest  income  of

$5,407,329  and posted an increase in Net Asset Value  per  Unit.

The most

<PAGE>

significant  gains  of approximately 6.0% were  recorded  in  the

metals  markets  primarily from short gold futures  positions  as

prices  dropped  during early July amid disappointment  over  low

prices  at the U.K. auction.  Newly established long gold futures

positions  also produced gains as prices skyrocketed due  to  the

results of the Bank of England's second gold auction on September

21  and  the  announcement of a plan by several European  central

banks  to  restrict sales of their gold reserves for five  years.

Additional  gains were recorded during August from long  aluminum

futures  positions  as  prices  increased  on  bullish  technical

factors and speculative buying.  In the energy markets, gains  of

approximately  3.8%  were recorded from long  crude  oil  futures

positions  as  oil  prices  moved  higher  after  OPEC  ministers

confirmed  that  they  would uphold their global  cutbacks  until

April  of next year.  These gains were partially offset by losses

of  approximately  4.0%  recorded in  the  global  interest  rate

futures  markets  primarily from short Australian  interest  rate

futures  positions as prices increased during July and August  on

the  temporary  strength  in U.S. bonds and  weaker-than-expected

business spending data out of Australia.  Additional losses  were

recorded  from  short  U.S. interest rate  futures  positions  as

domestic  bond prices moved temporarily higher on the release  of

benign  inflation  data and diminished fears of another  interest

rate  increase by the Federal Reserve.  Offsetting gains resulted

from  short  positions in German bond futures as prices  declined

during July on comments by Bundesbank President designate Welteke

that he has started to

<PAGE>

see  signs  of  a  resurgence in the European  economy.   In  the

currency  markets, losses of approximately 1.2% were  experienced

early  in  the  quarter  primarily from  long  Australian  dollar

positions  as  its value weakened versus the U.S. dollar  due  to

depressed  commodities prices, emerging market concerns  and  on-

going  talks  that  China may eventually  devalue  its  currency.

Newly  established short positions in this currency  resulted  in

additional  losses  during September as  its  value  strengthened

relative  to the U.S. dollar following the rally in gold  prices.

The  Partnership also experienced losses from long  positions  in

the  euro  and  the Swiss franc as the value of these  currencies

declined  sharply versus the U.S. dollar on September  10  as  an

intervention  by  the Bank of Japan temporarily strengthened  the

U.S. dollar versus most major currencies.  As a result, new short

positions  were established in the euro and the Swiss franc  only

to  result  in additional losses as these currencies strengthened

versus the U.S. dollar during the latter half of September  after

U.S.  trade  figures  reflected  a  record  deficit.   Offsetting

currency  gains were recorded from long positions in the Japanese

yen as the value of the yen climbed to a 44-month high versus the

U.S.  dollar amid optimism over Japan's economic recovery.  Total

expenses  for  the  three months ended September  30,  1999  were

$2,631,245, resulting in net income of $2,776,084.  The value  of

a  Unit increased from $1,001.31 at June 30, 1999 to $1,027.89 at

September 30, 1999.





<PAGE>

For  the  nine  months ended September 30, 1999, the  Partnership

recorded  total  trading revenues including  interest  income  of

$1,799,714  and, after expenses, posted a decrease in  Net  Asset

Value per Unit. The most significant losses of approximately 6.8%

were  experienced  in  the global interest rate  futures  markets

primarily  from short Australian interest rate futures  positions

as  prices  increased  during July and August  on  the  temporary

strength in U.S. bonds and weaker-than-expected business spending

data  out  of  Australia.  Additional losses were  recorded  from

short  Japanese bond futures positions as prices increased during

the first quarter amid growing speculation that the Bank of Japan

may  underwrite  Japanese government bonds and during  the  third

quarter on the strength of the Japanese yen and expectations that

additional  monetary easing in that country will  come.   In  the

currency  markets,  losses of approximately  3.1%  were  recorded

throughout  a majority of the first quarter from long  Australian

dollar  positions as its value dropped significantly relative  to

the  U.S.  dollar  on  speculation regarding  potential  currency

devaluations  in the Asian region.  Early in the  third  quarter,

losses were recorded from long positions in this currency due  to

depressed  commodities prices, emerging market concerns  and  on-

going  talks  that  China may eventually  devalue  its  currency.

Newly  established  short  positions  in  the  Australian  dollar

resulted  in  additional  losses during September  as  its  value

strengthened relative to the U.S. dollar following the  rally  in

gold prices.  Offsetting currency gains were recorded during  the

third quarter

<PAGE>

from  long positions in the Japanese yen as the value of the  yen

climbed  to  a  44-month  high versus  the  U.S.  dollar  due  to

continued optimism over Japan's economic recovery.  In the global

stock  index futures markets, losses of approximately  1.8%  were

experienced  primarily during February, mid-April  and  May  from

long  S&P  500 Index futures positions as domestic equity  prices

moved  lower  on  concerns  that the Federal  Reserve  may  raise

interest  rates in an effort to control inflation.  These  losses

were partially offset by gains of approximately 6.1% recorded  in

the energy markets primarily during March from long positions  in

crude  and  heating  oil  futures as prices  moved  significantly

higher  on news that both OPEC and non-OPEC countries had reached

an agreement to cut total output beginning April 1st.  Gains were

also  recorded  in this market complex during the  third  quarter

after  OPEC  ministers  confirmed that they  would  uphold  their

global cutbacks until April of next year.  In the metals markets,

gains  of  approximately 0.6% were recorded primarily from  short

gold  futures positions as prices dropped to 20-year lows  during

early  July  amid  disappointment over low  prices  at  the  U.K.

auction.   Newly  established long gold  futures  positions  also

resulted in gains as prices skyrocketed due to the results of the

Bank  of  England's second gold auction on September  21  and  an

announcement by several European central banks that they plan  to

restrict  sales  of  their gold reserves for  five  years.  Total

expenses  for  the  nine  months ended September  30,  1999  were

$8,509,602, resulting in a



<PAGE>

net  loss  of  $6,709,888.  The value of a  Unit  decreased  from

$1,084.04  at  December 31, 1998 to $1,027.89  at  September  30,

1999.



Item  3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES  ABOUT  MARKET
RISK

Introduction

The  Partnership is a commodity pool involved in the  speculative

trading  of  futures interests.  The market-sensitive instruments

held  by  the  Partnership are acquired for  speculative  trading

purposes only and, as a result, all or substantially all  of  the

Partnership's  assets  are at risk of trading  loss.   Unlike  an

operating  company, the risk of market-sensitive  instruments  is

central,  not  incidental,  to  the Partnership's  main  business

activities.



The  futures interests traded by the Partnership involve  varying

degrees  of  market  risk.  Market risk is often  dependent  upon

changes  in  the level or volatility of interest rates,  exchange

rates,  and  prices  of  financial instruments  and  commodities.

Fluctuations  in market risk based upon these factors  result  in

frequent  changes  in  the fair value of the  Partnership's  open

positions, and, consequently, in its earnings and cash flow.



The  Partnership's  total market risk is  influenced  by  a  wide

variety  of  factors,  including the  diversification  among  the

Partnership's open positions, the volatility present within the



<PAGE>

markets,  and the liquidity of the markets.  At different  times,

each  of these factors may act to increase or decrease the market

risk associated with the Partnership.



The  Partnership's past performance is not necessarily indicative

of  its future results.  Any attempt to numerically quantify  the

Partnership's  market risk is limited by the uncertainty  of  its

speculative  trading.  The Partnership's speculative trading  may

cause future losses and volatility (i.e. "risk of ruin") that far

exceed  the  Partnership's experiences to date or any  reasonable

expectations based upon historical changes in market value.



Quantifying the Partnership's Trading Value at Risk

The    following    quantitative   disclosures   regarding    the

Partnership's  market  risk  exposures  contain  "forward-looking

statements"  within  the meaning of the safe  harbor  from  civil

liability  provided for such statements by the Private Securities

Litigation  Reform Act of 1995 (set forth in Section 27A  of  the

Securities Act of 1933 and

Section  21E  of  the  Securities  Exchange  Act  of  1934).  All

quantitative disclosures in this section are deemed to be forward-

looking  statements for purposes of the safe harbor,  except  for

statements of historical fact.



The  Partnership accounts for open positions using mark-to-market

accounting  principles.   Any loss in the  market  value  of  the

Partnership's open positions is directly reflected in the

<PAGE>

Partnership's earnings, whether realized or unrealized,  and  its

cash flow.  Profits and losses  on  open  positions  of  exchange-

traded  futures  interests are settled  daily  through  variation

margin.



The  Partnership's risk exposure in the market sectors traded  by

the  Trading Manager is estimated below in terms of Value at Risk

("VaR").  The  VaR  model used by the Partnership  includes  many

variables that could change the market value of the Partnership's

trading  portfolio.  The Partnership estimates VaR using a  model

based upon historical simulation with a confidence level of  99%.

Historical  simulation involves constructing  a  distribution  of

hypothetical daily changes in the value of a trading portfolio.



The  VaR  model takes into account linear exposures to price  and

interest  rate risk.  Market risks that are incorporated  in  the

VaR  model  include equity and commodity prices, interest  rates,

foreign  exchange  rates, and correlation among these  variables.

The  hypothetical changes in portfolio value are based  on  daily

percentage changes observed in key market indices or other market

factors  ("market  risk  factors")  to  which  the  portfolio  is

sensitive.   The  historical observation period of  the  Partner-

ship's  VaR  is  approximately  four  years.   The  one-day   99%

confidence  level  of the Partnership's VaR  corresponds  to  the

negative change in portfolio value that, based on observed market

risk factors, would have been exceeded once in 100 trading days.

<PAGE>

VaR   models,   including  the  Partnership's,  are  continuously

evolving  as trading portfolios become more diverse and  modeling

techniques  and systems capabilities improve.  Please  note  that

the  VaR  model is used to numerically quantify market  risk  for

historic  reporting purposes only and is not utilized  by  either

Demeter  or  the  Trading Manager in their daily risk  management

activities.



The Partnership's Value at Risk in Different Market Sectors

The  following  table  indicates  the  VaR  associated  with  the

Partnership's open positions as a percentage of total Net  Assets

by  primary  market risk category as of September  30,  2000  and

1999.  As of September 30, 2000 and 1999, the Partnership's total

capitalization  was approximately $72 million and  $103  million,

respectively.

     Primary Market       September 30, 2000   September 30, 1999
     Risk Category          Value at Risk        Value at Risk

     Currency                  (2.83)%               (1.69)%

     Commodity                 (2.47)                (1.43)

     Interest Rate             (0.48)                (0.98)

     Equity                        -                 (0.19)

     Aggregate Value at Risk   (3.41)%               (2.47)%


Aggregate Value at Risk represents the aggregate VaR of  all  the

Partnership's open positions and not the sum of the  VaR  of  the

individual Market Categories listed above.  Aggregate VaR will be



<PAGE>

lower  as  it  takes  into  account correlation  among  different

positions and categories.



The  table  above  represents the VaR of the  Partnership's  open

positions  at  September  30, 2000  and  1999  only  and  is  not

necessarily representative of either the historic or future  risk

of  an  investment in the Partnership. Because the  Partnership's

only  business  is the speculative trading of futures  interests,

the composition of its trading portfolio can change significantly

over  any given time period, or even within a single trading day.

Any  changes  in  open positions could positively  or  negatively

materially impact market risk as measured by VaR.



The table below supplements the quarter-end VaR by presenting the

Partnership's high, low and average VaR, as a percentage of total

Net  Assets for the four quarterly reporting periods from October

1, 1999 through September 30, 2000.

Primary Market Risk Category      High        Low        Average

Currency                         (2.83)%     (0.79)%     (1.68)%

Commodity                        (2.47)      (0.85)      (1.81)

Interest Rate                    (1.65)      (0.19)      (0.97)

Equity                           (1.30)      (0.06)      (0.50)

Aggregate Value at Risk          (3.41)%     (1.27)%     (2.71)%



Limitations on Value at Risk as an Assessment of Market Risk

The face value of the market sector instruments held by the

<PAGE>

Partnership  is  typically  many  times  the  applicable   margin

requirements.  Margin requirements generally range between 2% and

15%  of  contract face value. Additionally, the use  of  leverage

causes  the face value of the market sector instruments  held  by

the   Partnership   to  typically  be  many   times   the   total

capitalization   of   the  Partnership.    The   value   of   the

Partnership's open positions thus creates a "risk  of  ruin"  not

typically found in other investments.  The relative size  of  the

positions held may cause the Partnership to incur losses  greatly

in excess of VaR within a short period of time, given the effects

of  the  leverage employed and market volatility.  The VaR tables

above, as well as the past

performance of the Partnership, give no indication of such "risk

of  ruin".  In  addition, VaR risk measures should be  viewed  in

light  of  the  methodology's  limitations,  which  include   the

following:

     past  changes in market risk factors will not always result

  in accurate predictions of the distributions and correlations of

  future market movements;

     changes  in portfolio value in response to market movements

  may differ from those of the VaR model;

    VaR results reflect past trading positions while future risk

  depends on future positions;









<PAGE>

     VaR using a one-day time horizon does not fully capture the

  market  risk of positions that cannot be liquidated  or  hedged

  within one day; and

     the  historical  market  risk  factor  data  used  for  VaR

  estimation  may provide only limited insight into  losses  that

  could be incurred under certain unusual market movements.



The VaR tables above present the results of the Partnership's VaR

for  each  of the Partnership's market risk exposures and  on  an

aggregate basis at September 30, 2000 and 1999 and for the end of

the four quarterly reporting periods from October 1, 1999 through

September  30, 2000.  Since VaR is based on historical data,  VaR

should  not  be viewed as predictive of the Partnership's  future

financial  performance or its ability to manage or monitor  risk.

There can be no assurance that the Partnership's actual losses on

a  particular day will not exceed the VaR amounts indicated above

or  that  such losses will not occur more than 1 in  100  trading

days.



Non-Trading Risk

The  Partnership has non-trading market risk on its foreign  cash

balances not needed for margin.  These balances and any market risk

they may represent  are  immaterial.   At

September  30,  2000 the Partnership's cash balance  at  DWR  was

approximately 83% of its total Net Asset Value.  A decline in

<PAGE>

short-term  interest  rates  will result  in  a  decline  in  the

Partnership's cash management income. This cash flow risk is  not

considered material.



Materiality,  as used throughout this section,  is  based  on  an

assessment  of  reasonably  possible  market  movements  and  the

potential  losses caused by such movements, taking  into  account

the   leverage,  optionality  and  multiplier  features  of   the

Partnership's market-sensitive instruments.



Qualitative Disclosures Regarding Primary Trading Risk Exposures

The following qualitative disclosures regarding the Partnership's

market risk exposures - except for (A) those disclosures that are

statements of historical fact and (B) the descriptions of how the

Partnership   manages  its  primary  market  risk   exposures   -

constitute  forward-looking  statements  within  the  meaning  of

Section  27A  of  the  Securities Act  and  Section  21E  of  the

Securities  Exchange Act. The Partnership's primary  market  risk

exposures  as  well  as the strategies used and  to  be  used  by

Demeter  and the Trading Manager for managing such exposures  are

subject  to numerous uncertainties, contingencies and risks,  any

one  of which could cause the actual results of the Partnership's

risk  controls to differ materially from the objectives  of  such

strategies.     Government    interventions,     defaults     and

expropriations,  illiquid  markets,  the  emergence  of  dominant

fundamental  factors, political upheavals, changes in  historical

price relationships, an influx of new market

<PAGE>

participants,  increased regulation and many other factors  could

result  in material losses as well as in material changes to  the

risk  exposures  and  the  risk  management  strategies  of   the

Partnership.   Investors  must  be  prepared  to  lose   all   or

substantially all of their investment in the Partnership.



The  following  were the primary trading risk  exposures  of  the

Partnership at September 30, 2000 by market sector.   It  may  be

anticipated,  however,  that  these market  exposures  will  vary

materially over time.



Currency.   The  Partnership's currency exposure is  to  exchange

rate  fluctuations,  primarily  fluctuations  which  disrupt  the

historical pricing relationships between different currencies and

currency  pairs.  Interest rate changes as well as political  and

general  economic  conditions influence these fluctuations.   The

Partnership  trades  in  a large number of currencies,  including

cross-rates - i.e., positions between two currencies  other  than

the  U.S. dollar.  At September 30, 2000, the Partnership's major

exposures  were  in the euro currency crosses and  outright  U.S.

dollar  positions.  Outright positions consist of the U.S. dollar

vs.  other currencies.  These other currencies include the  major

and  minor currencies.  Demeter does not anticipate that the risk

profile   of  the  Partnership's  currency  sector  will   change

significantly  in  the future.  The currency trading  VaR  figure

includes foreign margin amounts converted into U.S. dollars

<PAGE>

with  an incremental adjustment to reflect the exchange rate risk

inherent to the dollar-based Partnership in expressing VaR  in  a

functional currency other than dollars.



Commodity

Metals.  The  Partnership's second largest exposure at  September

30,  2000  was in the metals complex. This included positions  in

aluminum, copper and gold. Prices in these markets are influenced

by  general economic conditions, warehouse stocks and in the case

of gold, central bank sales.



Energy.   At September 30, 2000 the Partnership's energy exposure

was  in  futures  contracts  in the natural  gas  market.   Price

movement  in  this market results from political developments  in

the   Middle   East,   weather  patterns   and   other   economic

fundamentals.  It is possible that volatility will  remain  high.

Significant  profits and losses, which have been  experienced  in

the  past,  are  expected to continue to be experienced  in  this

market.  Natural gas has exhibited volatility in prices resulting

from  weather  patterns  and supply and demand  factors  and  may

continue in this choppy pattern.



Soft  Commodities and Agriculturals.  At September 30,  2000  the

Partnership had exposure in the corn, cotton and coffee  markets.

Supply  and  demand inequalities, severe weather  disruption  and

market expectations affect price movements in these markets.

<PAGE>

Interest  Rate.  The third largest market exposure  at  September

30,  2000 was in the interest rate complex.  Exposure was  spread

across   United  States  and  Japanese  interest  rate   sectors.

Interest  rate  movements  directly  affect  the  price  of   the

sovereign  bond  futures positions held by  the  Partnership  and

indirectly  affect  the  value of its stock  index  and  currency

positions.   Interest rate movements in one country  as  well  as

relative  interest  rate movements between  countries  materially

impact   the   Partnership's  profitability.   The  Partnership's

primary  interest  rate exposure is generally  to  interest  rate

fluctuations  in the United States and the other  G-7  countries.

The  G-7  countries  consist of France, U.S.,  Britain,  Germany,

Japan,  Italy  and Canada.  However, the Partnership  also  takes

futures  positions  in the government debt of smaller  nations  -

e.g.  Australia.   Demeter anticipates that  G-7  and  Australian

interest rates will remain the primary interest rate exposure  of

the  Partnership  for  the foreseeable future.   The  changes  in

interest  rates  that  have the most significant  effect  on  the

Partnership are in short to intermediate term as opposed to  long

term  rates  as  most  of the speculative interest  rate  futures

positions  held by the Partnership are in short term  and  medium

term instruments.



Qualitative Disclosures Regarding Non-Trading Risk Exposure

The  following  was  the only non-trading risk  exposure  of  the

Partnership as of September 30, 2000:

<PAGE>

Foreign  Currency  Balances.  The Partnership's  primary  foreign

currency balances were in Japanese yen.  The Partnership controls

the  non-trading  risk of these balances by regularly  converting

these  balances  back  into  dollars  upon  liquidation  of   the

respective position.



Qualitative Disclosures Regarding Means of Managing Risk Exposure

The  Partnership and the Trading Manager, separately, attempt  to

manage   the   risk  of  the  Partnership's  open  positions   in

essentially  the  same  manner in all market  categories  traded.

Demeter  attempts  to manage market exposure by diversifying  the

Partnership's assets among different market sectors  and  trading

approaches, and monitoring the performance of the Trading Manager

daily.    In    addition,   the   Trading   Manager   establishes

diversification  guidelines, often set in terms  of  the  maximum

margin  to be committed to positions in any one market sector  or

market-sensitive instrument.



Demeter monitors and controls the risk of the Partnership's  non-

trading   instrument,  cash.   Cash  is  the   only   Partnership

investment directed by Demeter, rather than the Trading Manager.











<PAGE>

                  PART II.   OTHER INFORMATION


Item 1.  LEGAL PROCEEDINGS

Please  refer  to Legal Proceedings previously disclosed  in  the

Partnership's Form 10-Q(s) for the quarters ended March 31,  2000

and  June 30, 2000 and Form 10-K for the year ended December  31,

1999.


Item 6.   EXHIBITS AND REPORTS ON FORM 8-K

(A)       Exhibits

3.01           Amended and Restated Limited Partnership Agreement
          of   the  Partnership,  dated  as  of  June  30,   1995
          incorporated  by  reference  to  Exhibit  3.01  of  the
          Partnership's Registration Statement on Form S-1  (File
          No. 33-90360).

10.01     Amended  and  Restated Management Agreement  among  the
          Partnership, Demeter and DWFCM dated as of  August  31,
          1995 incorporated by reference to Exhibit 10.02 of  the
          Partnership's Registration Statement on Form S-1  (File
          No. 33-90360).

10.02           Amended and Restated Customer Agreement, dated as
     of        December 1, 1997, between the Partnership and Dean
     Witter   Reynolds   Inc.  incorporated   by   reference   to
     Exhibit 10.02 of the Partnership's Form 10-K (File No.       0-
     23577) for the year ended December 31, 1998.

10.03           Customer Agreement, dated as of December 1, 1997,
          among  the  Partnership, Carr Futures, Inc.,  and  Dean
          Witter  Reynolds  Inc.  incorporated  by  reference  to
          Exhibit 10.03 of the Partnership's Form 10-K (File  No.
          0-23577) for the year ended December 31, 1998.

10.04           International Foreign Exchange Master  Agreement,
          dated as of August 1, 1997, between the Partnership and
          Carr Futures, Inc. incorporated by reference to Exhibit
          10.04 of the Partnership's Form 10-K (File No. 0-23577)
          for the year ended December 31, 1998.





<PAGE>
10.05           Customer  Agreement, dated  as  of  May  1,  2000
          between   Morgan   Stanley  &  Co.  Incorporated,   the
          Partnership   and   Dean  Witter   Reynolds   Inc.   is
          incorporated  by  reference to  Exhibit  10.05  of  the
          Partnership's  Quarterly Report on Form  10-Q  for  the
          quarter ended June 30, 2000, (File No. 0-23577).

(B)            Reports on Form 8-K. - None.












































<PAGE>






                           SIGNATURE



Pursuant  to the requirements of the Securities Exchange  Act  of
1934, the Registrant has duly caused this report to be signed  on
its behalf by the undersigned, thereunto duly authorized.




                              Dean Witter Diversified Futures
                              Fund Limited Partnership
                              (Registrant)

                              By:  Demeter Management Corporation
                                   (General Partner)

November 13, 2000            By:/s/Raymond E. Koch
                                   Raymond E. Koch
                                   Chief Financial Officer




The  General  Partner which signed the above is  the  only  party
authorized  to  act  for the Registrant.  The Registrant  has  no
principal   executive  officer,  principal   financial   officer,
controller, or principal accounting officer and has no  Board  of
Directors.