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 Period ended June 30, 1997 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 No. 33-90360

    DEAN  WITTER  DIVERSIFIED  FUTURES FUND  LIMITED  PARTNERSHIP
(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

                       June 30, 1997

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

     Statements of Financial Condition June 30, 1997
     (Unaudited) and December 31, 1996.....................2

     Statements of Operations for the Quarters Ended
     June 30, 1997 and 1996 (Unaudited)....................3

     Statements of Operations for the Six Months Ended
     June 30, 1997 and 1996 (Unaudited)....................4

     Statements of Changes in Partners' Capital for the
        Six Months ended June 30, 1997 and 1996
     (Unaudited)...........................................5

     Statements of Cash Flows for the Six Months Ended
     June 30, 1997 and 1996 (Unaudited)....................6

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

Item 2. Management's Discussion and Analysis of

Financial Condition and Results of Operations..13-19

Part II. OTHER INFORMATION

Item 1. Legal Proceedings..............................20-21

Item 5. Other Information.................................21

Item 6. Exhibits and Reports on Form 8-K..................22




</TABLE>









<PAGE>
<TABLE>
    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP
               STATEMENTS OF FINANCIAL CONDITION

<CAPTION>

                                      June 30,     December 31,
                                        1997           1996
                                         $              $
                                    (Unaudited)


ASSETS
<S>                             <C>                 <C>
Equity in Commodity futures trading accounts:
 Cash                             150,883,840   166,737,088
  Net  unrealized  gain  (loss) on open  contracts        272,566
(10,164)

 Total Trading Equity             151,156,406   166,726,924


 Interest receivable (DWR)             545,304      574,678
      Due      from     DWR                               138,088
-

Total Assets                      151,839,798   167,301,602


LIABILITIES AND PARTNERS' CAPITAL

Liabilities

 Redemptions payable                 5,268,851    2,811,995
 Accrued brokerage commissions (DWR)   513,888      208,243
 Accrued management fee (DWFCM)       381,557       455,428
 Administrative expenses payable       118,928      106,568
 Accrued transaction fees and costs       31,683     32,213

 Total Liabilities                   6,314,907    3,614,447


Partners' Capital

 Limited Partners (156,871.872 and
  177,301.806 Units, respectively)143,440,755   161,609,600
 General Partner (2,279.285 Units)    2,084,136   2,077,555

 Total Partners' Capital          145,524,891   163,687,155

 Total Liabilities and Partners' Capital151,839,798 167,301,602

NET ASSET VALUE PER UNIT               914.38           911.49
<FN>

        The accompanying footnotes 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 June 30,

                                       1997            1996
                                        $            $
REVENUES
<S>                       <C>                <C>
 Trading profit (loss):
    Realized                    (4,911,492)   7,916,841
    Net change in unrealized     (3,198,864)  (8,103,617)

      Total Trading Results      (8,110,356)   (186,776)

    Interest Income (DWR)        1,679,013    1,713,740

      Total Revenues            (6,431,343)      1,526,964


EXPENSES

    Brokerage commissions (DWR)  2,863,537     3,157,625
    Management fees (DWFCM)      1,184,231    1,263,640
    Transaction fees and costs     226,971       250,913
    Administrative expenses         50,000                 9,000

      Total Expenses             4,324,739     4,681,178

NET LOSS                        (10,756,082)    (3,154,214)


NET LOSS ALLOCATION

    Limited Partners            (10,610,890)  (3,117,734)
    General Partner                (145,192)     (36,480)


NET LOSS PER UNIT

    Limited Partners                 (63.70)      (16.00)
    General Partner                  (63.70)      (16.00)

<FN>

        The accompanying footnotes 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 Six Months Ended June 30,

                                       1997            1996
                                        $            $
REVENUES
<S>                          <C>             <C>
 Trading profit (loss):
    Realized                       6,590,775   (12,355,946)
    Net change in unrealized         282,730  (7,163,083)

      Total Trading Results        6,873,505 (19,519,029)

    Interest Income (DWR)         3,403,259     3,518,521

      Total Revenues              10,276,764   (16,000,508)


EXPENSES

    Brokerage commissions (DWR)   5,913,874   7,355,683
    Management fees (DWFCM)       2,460,288   2,656,468
    Transaction fees and costs      475,763         579,114
    Administrative fees              93,000           40,000

      Total Expenses              8,942,925     10,631,265

NET INCOME (LOSS)                 1,333,839      (26,631,773)


NET INCOME (LOSS) ALLOCATION

    Limited Partners               1,327,258 (26,336,928)
    General Partner                    6,581   (294,845)


NET INCOME (LOSS) PER UNIT

    Limited Partners                    2.89     (129.36)
    General Partner                     2.89     (129.36)


<FN>

        The accompanying footnotes 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 Six Months Ended June 30, 1997 and 1996
                          (Unaudited)



<CAPTION>

                          Units of
                        Partnership Limited   General
                          Interest   Partners Partner    Total


<S>             <C>                           <C>             <C>
<C>
Partners' Capital
   December   31,   1995     207,349.537             $192,029,423
$2,134,341                       $194,163,764

Net     Loss                          -              (26,336,928)
(294,845)                        (26,631,773)

Redemptions              (12,513.890)                (10,289,983)
-                                  (10,289,983)

Partners' Capital
   June   30,   1996         194,835.647             $155,402,512
$1,839,496                       $157,242,008




Partners' Capital
   December   31,   1996    179,581.091              $161,609,600
$2,077,555                       $163,687,155

Net     Income                        -                 1,327,258
6,581                            1,333,839
Redemptions             (20,429.934)                 (19,496,103)
-                                    (19,496,103)

Partners' Capital
   June   30,   1997       159,151.157               $143,440,755
$2,084,136                       $145,524,891




<FN>

         The accompanying footnotes 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 Six Months Ended June 30,

                                       1997            1996
                                        $            $
CASH FLOWS FROM OPERATING ACTIVITIES
<S>                         <C>                          <C>
       Net       income      (loss)                     1,333,839
(26,631,773)
 Noncash item included in net income (loss):
      Net  change  in  unrealized        (282,730)              
7,163,083

 (Increase) decrease in operating assets:
    Interest receivable (DWR)        29,374              133,826
    Due from DWR                    (138,088)            257,457

 Increase (decrease) in operating liabilities:
      Accrued  brokerage  commissions  (DWR)  305,645           
<446,090)
    Accrued management fee (DWFCM)  (73,871)             (54,296)
        Administrative    expenses    payable              12,360
(5,557)
       Accrued    transaction   fees   and   costs          (530)
(7,237)

  Net  cash  provided by (used for) operating activities1,185,999
(19,590,587)


CASH FLOWS FROM FINANCING ACTIVITIES


      Increase      in     redemptions     payable      2,456,856
3,972,292
      Redemptions      of      units                 (19,496,103)
(10,289,983)

    Net    cash   used   for   financing   activities(17,039,247)
(6,317,691)


   Net  decrease  in  cash            (15,853,248)              
<25,908,278)

     Balance     at     beginning    of    period     166,737,088
186,577,817

     Balance     at     end    of    period           150,883,840
160,669,539

<FN>

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

</TABLE>


<PAGE>
     DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                           (UNAUDITED)

The  financial statements include, in the opinion of  management,

all  adjustments necessary for a fair presentation of the results

of  operations and financial condition.  The financial statements

and condensed notes herein should be read in conjunction with the

Partnership's December 31, 1996 Annual Report on Form 10-K.


1. Organization

Dean  Witter  Diversified Futures Fund Limited  Partnership  (the

"Partnership") is a limited partnership organized  to  engage  in

the  speculative trading of commodity futures and futures related

contracts,  including  forward contracts  on  foreign  currencies

(collectively, "futures interests").  The general partner for the

Partnership  is Demeter Management Corporation ("Demeter").   The

commodity  broker  is  Dean Witter Reynolds  Inc.  ("DWR").   The

trading  manager  is  Dean Witter Futures & Currency  Management,

Inc.  ("DWFCM").   Demeter, DWR and DWFCM are  all  wholly  owned

subsidiaries  of  Morgan  Stanley, Dean Witter,  Discover  &  Co.

("MSDWD").


2. Related Party Transactions

The  Partnership's  cash  is on deposit  with  DWR  in  commodity

trading accounts to meet margin requirements as needed.  DWR pays

interest  on  these funds based on current 13-week U.S.  Treasury

Bill  rates.  Brokerage expenses incurred by the Partnership  are

paid  to  DWR.   Management and incentive fees  incurred  by  the

Partnership are paid to DWFCM.

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



3. Financial Instruments

The  Partnership trades futures and forward contracts in interest

rates,  stock  indices,  commodities, currencies,  petroleum  and

precious  metals.  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.   At  June  30,  1997  and

December 31, 1996, open contracts were:


                               Contract or Notional Amount
                            June 30, 1997    December 31, 1996
                                    $                   $

Exchange-Traded-Contracts
 Financial Futures:
   Commitments to Purchase    218,346,000                 -
   Commitments to Sell                  -                  -
 Commodity Futures:
   Commitments to Purchase     45,444,000         28,117,000
   Commitments to Sell        154,557,000         84,112,000
 Foreign Futures:
   Commitments to Purchase    324,516,000         86,391,000
   Commitments to Sell        142,876,000        163,838,000
Off-Exchange-Traded
 Forward Currency Contracts
   Commitments to Purchase    302,146,000        442,642,000
   Commitments to Sell        323,208,000        573,157,000

A  portion of the amounts indicated as off-balance-sheet risk  in

forward   currency   contracts  is  due  to  offsetting   forward

commitments to purchase and to sell the same currency on the same

                                

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

                                

date   in   the   future.   These  commitments  are  economically

offsetting,  but are not offset in the forward market  until  the

settlement date.



The  net unrealized gains (losses) on open contracts are reported

as  a component of "Equity in Commodity futures trading accounts"

on the Statements of Financial Condition and totaled $272,566 and

$(10,164)  at  June 30, 1997 and December 31, 1996, respectively.

Of the $272,566 net unrealized gain on open contracts at June 30,

1997, $2,160,533 related to exchange-traded futures contracts and

$(1,887,967)  related  to  off-exchange-traded  forward  currency

contracts.  Of the $10,164 net unrealized loss on open  contracts

at  December  31,  1996,  $3,667,477 related  to  exchange-traded

futures contracts and $(3,677,641) related to off-exchange-traded

forward currency contracts.


Exchange-traded futures contracts held by the Partnership at June

30,  1997 and December 31, 1996 mature through December 1997  and

June  1997,  respectively.  Off-exchange-traded forward  currency

contracts  held by the Partnership at June 30, 1997 and  December

31,   1996   mature  through  August  1997  and  February   1997,

respectively.  The contract amounts in the above table  represent

the  Partnership's extent of involvement in the particular  class

of financial instrument, but not the credit risk associated with




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




counterparty  nonperformance.  The credit  risk  associated  with

these  instruments  is limited to the amounts  reflected  in  the

Partnership's Statements of Financial Condition.



The  Partnership  also has credit risk because DWR  acts  as  the

futures  commission  merchant  or  the  sole  counterparty,  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,  as  the

futures commission merchant for all of the Partnership's exchange-

traded-futures contracts, is required pursuant to regulations  of

the  Commodity Futures Trading Commission ("CFTC")  to  segregate

from  its  own  assets and for the sole benefit of its  commodity

customers  all  funds held by DWR with respect to exchange-traded

futures contracts including an amount equal to the net unrealized

gain   on   all  open  futures  contracts,  which  funds  totaled

$153,044,373  and $170,404,565 at June 30, 1997 and December  31,

1996,  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 DWR, the counterparty on all such contracts,  to

perform.



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




For  the  six  months  ended June 30, 1997  and  the  year  ended

December   31,   1996,  the  average  fair  value  of   financial

instruments held for trading purposes was as follows:

                                           June 30, 1997
                                       Assets        Liabilities
                                         $               $

Exchange-Traded Contracts:
  Financial Futures                 40,012,000      290,954,000
  Commodity Futures                 60,908,000       75,328,000
  Foreign Futures                  186,125,000      125,268,000
Off-Exchange-Traded Forward
 Currency Contracts                263,686,000      374,807,000


                                        December 31, 1996
                                       Assets        Liabilities
                                         $               $

Exchange-Traded Contracts:
   Financial  Futures                198,372,000      116,558,000
Commodity Futures                 92,560,000       69,758,000
  Foreign Futures                  282,199,000      109,444,000
Off-Exchange-Traded Forward
 Currency Contracts                489,931,000      540,039,000



4.  Subsequent Event

On  July  31,  1997,  DWR closed the sale  of  its  institutional

futures business and foreign currency trading operations to  Carr

Futures  Inc. ("Carr"), a subsidiary of Credit Agricole Indosuez.

Following  the  sale,  Carr  became  the  counterparty   on   the

Partnership's  foreign  currency  trades.   However,   during   a

transition  period of about three months, DWR  will  continue  to

perform certain services relating to the Partnership's futures

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



trading  including clearance.  After such transition period,  DWR

will  continue  to serve as a futures broker for the  Partnership

with  Carr  providing  execution and clearing  services  for  the

Partnership's account.












































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

Liquidity  - The Partnership's assets are on deposit  in  futures

interest  trading  accounts  with  DWR,  and  are  used  by   the

Partnership as margin to engage in futures interest trading.  DWR

holds  such  assets  in  either  designated  depositories  or  in

securities approved by the CFTC for investment of customer funds.

The Partnership's assets held by DWR may be used as margin solely

for  the  Partnership's  trading.  Since the  Partnership's  sole

purpose is to trade in futures interests, it is expected that the

Partnership  will continue to own such liquid assets  for  margin

purposes.



The  Partnership's investment in futures interests may, from time

to time, be illiquid.  Most United States futures exchanges limit

fluctuations in certain futures interest prices during  a  single

day  by  regulations  referred to as  "daily  price  fluctuations

limits" or "daily limits".  Pursuant to such regulations,  during

a  single trading day no trades may be executed at prices  beyond

the  daily limit.  If the price of a particular futures  interest

has  increased  or  decreased by an amount equal  to  the  "daily

limit",  positions in such futures interest can neither be  taken

nor liquidated unless traders are willing to effect trades at  or

within  the  limit.   Futures interest prices  have  occasionally

moved the daily limit for several consecutive days with little or

no trading.  Such market conditions could prevent the Partnership

from  promptly  liquidating its futures interests and  result  in

restrictions on redemptions.  However, since the commencement of

<PAGE>

trading  by  the Partnership, there has never been  a  time  when

illiquidity  has affected a material portion of the Partnership's

assets.



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.



Capital  Resources - The Partnership does not have, nor  does  it

expect  to  have, any capital assets.  Redemptions and  sales  of

additional  Units of Limited Partnership Interest in  the  future

will  affect  the  amount of funds available for  investments  in

futures interests in subsequent periods.  As redemptions  are  at

the  discretion  of the Limited Partners, it is not  possible  to

estimate   the  amount  and  therefore  the  impact   of   future

redemptions.



Results of Operations

For the Quarter and Six Months Ended June 30, 1997

For  the  quarter  ended  June 30, 1997 the  Partnership's  total

trading  losses  net of interest income were $6,431,343.   During

the  second quarter, the Partnership posted a loss in  Net  Asset

Value

<PAGE>

per  Unit.  Losses were recorded in the financial futures markets

during  April from short positions in U.S. interest rate  futures

as prices moved higher late in the month.  This upward price move

resulted  in  the  Partnership establishing new  long  positions,

which  recorded additional losses in May as prices  finished  the

month lower.  Smaller losses were recorded as a result of similar

choppy  price  movement in European interest rate futures  during

April and May.  A portion of these losses was offset in June from

long  global  interest rate and stock index futures positions  as

prices  in these markets moved higher.  Trading losses were  also

recorded in the energy and metals markets as oil and gas  prices,

as  well  as  base  metals  prices, moved  in  a  choppy  pattern

throughout  a  majority  of  the quarter.   Smaller  losses  were

recorded  in  the  currency markets as gains experienced  from  a

strengthening in the value of the U.S. dollar versus the Japanese

yen  during  April were more than offset by losses recorded  from

transactions  involving  the Swiss franc  during  June  and  from

transactions  involving  the Canadian dollar  and  British  pound

during  May.  A portion of the Partnership's overall  losses  for

the  quarter  was  offset by gains experienced from  long  coffee

futures  positions as coffee prices trended higher  during  April

and  May.   Gains  recorded from short soybean and  corn  futures

positions,  as prices in these markets moved lower  during  June,

also  helped  to  mitigate  losses  during  the  quarter.   Total

expenses for the quarter were $4,324,739, resulting in a net loss

of   $10,756,082.   The  value  of  an  individual  Unit  in  the

Partnership decreased from $978.08 at March 31, 1997  to  $914.38

at June 30, 1997.

<PAGE>

For  the  six months ended June 30, 1997 the Partnership's  total

trading  revenues  including interest  income  were  $10,276,764.

During  the first six months, the Partnership posted an  increase

in  Net Asset Value per Unit.  The most significant trading gains

were  recorded  in  the  currency  markets  as  a  result  of   a

strengthening in the value of the U.S. dollar during  the  period

January  through April.  A portion of these gains was  offset  by

losses from transactions involving the British pound and Canadian

dollar  during February, March and May.  Gains were also recorded

in  soft commodities from long coffee futures positions as coffee

prices  trended steadily higher during January and  February  and

again during April and May.  Trading gains were also recorded  in

the  agricultural markets from trading soybean and corn  futures.

A  majority of the Partnership's overall gains for the first half

of the year were offset by losses in global interest rate futures

as  prices in these markets moved in a short-term volatile  range

during  the  period January to April.  Losses were also  recorded

fromt trading energy futures during the second quarter as oil and

gas  prices  moved without consistent direction.  Smaller  losses

were recorded in metals as gains recorded from short gold futures

positions during January were more than offset by losses in  base

metals futures trading during the second quarter.  Total expenses

for  the  period  were $8,942,925, resulting  in  net  income  of

$1,333,839.   The value of an individual Unit in the  Partnership

increased  from $911.49 at December 31, 1996 to $914.38  at  June

30, 1997.

                                

<PAGE>

For the Quarter and Six Months Ended June 30, 1996

For  the  quarter  ended June 30, 1996, the  Partnership's  total

trading  revenues  including  interest  income  were  $1,526,964.

During  the second quarter, the Partnership posted a decrease  in

Net  Asset  Value per Unit.  The most significant trading  losses

during the quarter were recorded in the financial futures markets

as  trendless price movement was experienced in non-U.S. interest

rate  futures, particularly in Australian, Japanese and  European

interest  rate futures.  Trading gains recorded during April  and

May from short U.S. interest rate futures positions, as prices in

these  markets  moved lower, offset a portion  of  these  losses.

Additional  losses  for the Partnership were recorded  in  global

stock  index futures as prices moved without consistent direction

throughout  the quarter.  In soft commodities, losses experienced

from  short-term  volatile movement in sugar and  coffee  futures

prices during April and May, as well as from losses in coffee and

cocoa  futures  during June, more than offset gains  recorded  in

June  from short cotton positions as prices moved lower and  from

long  sugar  positions  as  prices  moved  higher.   In  currency

trading, gains were recorded during April from short German  mark

and  Swiss  franc positions as the value of the German  mark  and

Swiss  franc  moved lower relative to the U.S. dollar  and  other

world  currencies.  Smaller trading gains were  recorded  by  the

Partnership  during May from long Australian dollar positions  as

the value of the Australian dollar moved higher relative to other

world  currencies.   Additional gains  were  recorded  in  metals

trading from short copper, gold and silver futures positions as

<PAGE>

prices  moved  lower  during June.  In the agricultural  markets,

gains  recorded  from  long corn and wheat futures  positions  as

prices  moved  higher during April, offset  losses  in  corn  and

soybean  products in June.  Smaller gains were  recorded  in  the

energy  markets as gains in natural gas futures more than  offset

losses  in  other gas and oil products.  Total expenses  for  the

quarter  were $4,681,178, resulting in a net loss of  $3,154,214.

The value of an individual Unit in the Partnership decreased from

$823.05 at March 31, 1996 to $807.05 at June 30, 1996.



For  the six months ended June 30, 1996, the Partnership's  total

trading  losses net of interest income were $16,000,508.   During

the first half of the year, the Partnership posted a decrease  in

Net  Asset  Value per Unit primarily as a result of a sudden  and

sharp trend reversal during February in the downward move in  the

value  of  the  Japanese yen and most major European  currencies,

which  had  resulted  in  gains during  January.   Trading  gains

recorded  during March from transactions involving the Australian

dollar  and  Japanese yen offset a portion of the overall  losses

experienced   in   the   currency   markets   during    February.

Additionally,  trendless price movement in global  interest  rate

futures trading during the second quarter, resulted in losses for

the Partnership.  In energy trading, gains in natural gas futures

during  June, as well as from gains in natural gas futures during

June,  as  well as from gains in crude oil futures during  March,

offset  a  portion of overall losses for the first  half  of  the

year.

                                

<PAGE>

In agricultural trading, long positions in corn and wheat futures

profited  from  increasing prices early in  the  second  quarter.

These  gains  helped to mitigate losses experienced from  trading

soybean  futures  during the first quarter.  Short-term  volatile

price movement in soft commodities futures resulted in losses for

the  Partnership during a majority of the first half of the year.

Total  expenses for the period were $10,631,265, resulting  in  a

net  loss of $26,631,773.  The value of an individual Unit in the

Partnership  decreased  from $936.41  at  December  31,  1995  to

$807.05 at June 30, 1996.



































<PAGE>


                  PART II.   OTHER INFORMATION

Item 1.   LEGAL PROCEEDINGS

On  September 6, 10, and 20, 1996, and on March 13, 1997, similar

purported class actions were filed in the Superior Court  of  the

State  of  California, County of Los Angeles, on  behalf  of  all

purchasers  of  interests in limited partnership commodity  pools

sold by DWR.  Named defendants include DWR, Demeter, DWFCM, MSDWD

(all  such  parties  referred to hereafter as  the  "Dean  Witter

Parties"), the Partnership, certain limited partnership commodity

pools  of  which  Demeter  is the general  partner,  and  certain

trading  advisors  to  those  pools.   On  June  16,  1997,   the

plaintiffs  in  the  above actions filed a  consolidated  amended

complaint.   Similar purported class actions were also  filed  on

September  18 and 20, 1996 in the Supreme Court of the  State  of

New  York,  New  York County, and on November  14,  1996  in  the

Superior  Court  of  the State of Delaware,  New  Castle  County,

against  the Dean Witter Parties and certain trading advisors  on

behalf   of  all  purchasers  of  interests  in  various  limited

partnership  commodity pools including the Partnership,  sold  by

DWR.   Generally,  these complaints allege, among  other  things,

that  the  defendants committed fraud, deceit, misrepresentation,

breach   of  fiduciary  duty,  fraudulent  and  unfair   business

practices,  unjust enrichment, and conversion in connection  with

the  sale  and  operation  of  the  various  limited  Partnership

commodity  pools.   The  complaints seek unspecified  amounts  of

compensatory  and  punitive damages  and  other  relief.   It  is

possible  that additional similar actions may be filed and  that,

in the course of these actions, other parties

<PAGE>

could  be  added as defendants.  The Dean Witter Parties  believe

that  they and the Partnership have strong defenses to, and  they

and   the  Partnership  will  vigorously  contest,  the  actions.

Although  the  ultimate  outcome of legal proceedings  cannot  be

predicted with certainty, it is the opinion of management of  the

Dean  Witter Parties that the resolution of the actions will  not

have a material adverse effect on the financial condition or  the

results  of operations of any of the Dean Witter Parties  or  the

Partnership.




Item 5.  OTHER INFORMATION

On  July  21,  1997,  MSDWD,  the sole  shareholder  of  Demeter,

appointed  a  new  Board of Directors consisting  of  Richard  M.

DeMartini, Mark J. Hawley, Lawrence Volpe, Joseph G. Siniscalchi,

Edward C. Oelsner III, and Robert E. Murray.
























                                
<PAGE>




Item 6.   Exhibits and Reports on Form 8-K

          (A)  Exhibits - None.

          (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)

August   8,   1997                 By:   /s/  Patti   L.   Behnke
Patti L. Behnke
                                      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.