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 June 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

                       June 30, 2000
<CAPTION>

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements
<S>
<C>
     Statements of Financial Condition June 30, 2000
     (Unaudited) and December 31, 1999.....................2

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

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

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

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

        Notes to Financial Statements (Unaudited)..........7-11

Item 2. Management's Discussion and Analysis of

Financial Condition and Results of Operations..12-21

Item 3. Quantitative and Qualitative Disclosures about
        Market Risk ...................................21-33

Part II. OTHER INFORMATION

Item 1. Legal Proceedings..............................34-35

Item 5. Other Information..............................35-36

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


</TABLE>






<PAGE>
<TABLE>

                 PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP
               STATEMENTS OF FINANCIAL CONDITION

<CAPTION>

                                      June 30,     December 31,
                                       2000         1999
                                         $              $
                                    (Unaudited)
ASSETS
<S>                                     <C>            <C>
Equity in futures interests trading accounts:
 Cash                             89,056,307       92,093,924

    Net    unrealized    gain    on   open    contracts    (MSIL)
37,535                                   -
 Net unrealized gain (loss) on open contracts (Carr)(1,578,913)  1,601,939
   Net   unrealized   loss   on  open  contracts   (MS   &   Co.)
(2,285,318)        ______-____
 Total net unrealized gain (loss) on open contracts   (3,826,696)
1,601,939

      Total Trading Equity        85,229,611       93,695,863

Interest receivable (DWR)            335,163          312,680

      Total Assets                  85,564,774     94,008,543

LIABILITIES AND PARTNERS' CAPITAL

Liabilities

 Redemptions payable               1,960,990        2,015,683
 Accrued management fees (DWFCM)     215,320          229,326
 Administrative expenses payable      116,519         114,311

      Total Liabilities            2,292,829        2,359,320

Partners' Capital

 Limited Partners (80,501.913 and
   92,865.334 Units, respectively)  81,570,372   89,453,674
 General Partner (1,679.285 and
       2,279.285 Units, respectively)   1,701,573     2,195,549

 Total Partners' Capital            83,271,945   91,649,223

  Total  Liabilities and Partners' Capital    85,564,774    94,00
8,543

NET ASSET VALUE PER UNIT          1,013.27             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 June 30,

                                        2000        1999
                                          $            $


REVENUES
<S>
<C>                             <C>
 Trading profit (loss):
       Realized                        12,453,197         169,760
Net change in unrealized         (9,824,031)    1,107,934
      Total Trading Results        2,629,166    1,277,694
    Interest Income (DWR)            994,054      980,918
      Total Revenues               3,623,220    2,258,612

EXPENSES

     Brokerage   commissions  (DWR)      1,180,558      1,924,178
 Management   fees   (DWFCM)              650,848         841,841
 Transaction   fees   and  costs            73,713        134,760
 Administrative   expenses                37,000           38,000
 Total Expenses                   1,942,119    2,938,779

NET INCOME (LOSS)                  1,681,101     (680,167)

NET INCOME (LOSS) ALLOCATION

      Limited   Partners                 1,637,805      (663,948)
General Partner                       43,296     (16,219)

NET INCOME (LOSS) PER UNIT

      Limited   Partners                     18.99         (7.11)
General Partner                        18.99       (7.11)
<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 Six Months Ended June 30,

                                        2000        1999
                                          $            $

REVENUES
<S>
<C>                              <C>
 Trading profit (loss):
               Realized                                12,219,727
(6,745,941)                                                   Net
change in unrealized             (5,428,635)     1,089,983

            Total      Trading      Results             6,791,092
(5,655,958)
    Interest Income (DWR)          1,921,410      2,048,343
      Total Revenues               8,712,502    (3,607,615)

EXPENSES

      Brokerage   commissions  (DWR)      2,692,465     3,764,700
Management   fees   (DWFCM)              1,317,133      1,759,907
Transaction   fees   and   costs             189,317      280,750
Administrative expenses               74,000         73,000
      Total Expenses               4,272,915    5,878,357

NET INCOME (LOSS)                  4,439,587   (9,485,972)

NET INCOME (LOSS) ALLOCATION

      Limited   Partners                 4,325,601    (9,297,395)
General Partner                      113,986    (188,577)

NET INCOME (LOSS) PER UNIT

      Limited   Partners                     50.01        (82.73)
General Partner                        50.01      (82.73)

<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 Six Months Ended June 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
-                                  (9,297,395)          (188,577)
(9,485,972)

Redemptions              (11,884.591)                (12,171,511)
-                                  (12,171,511)

Partners' Capital,
  June  30, 1999      106,051.193    $103,906,845      $2,282,249
$106,189,094



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

Net                                                        Income
-                                           4,325,601     113,986
4,439,587
Redemptions              (12,963.421)                (12,208,903)
(607,962)                          (12,816,865)

Partners' Capital,
  June  30, 2000       82,181.198    $81,570,372       $1,701,573
$83,271,945







<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 Six Months Ended June 30,

                                       2000           1999
                                          $             $
CASH FLOWS FROM OPERATING ACTIVITIES
<S>
<C>                         <C>
   Net  income  (loss):                  4,439,587              (
9,485,972)
 Noncash item included in net income (loss):
      Net  change  in  unrealized         5,428,635             (
1,089,983)
 (Increase) decrease in operating assets:
    Interest receivable (DWR)        (22,483)            66,542
 Increase (decrease) in operating liabilities:
        Accrued     management     fees     (DWFCM)      (14,006)
(42,857)
Administrative       expenses        payable                2,208
37,958

  Net  cash provided by (used for) operating activities 9,833,941
(10,514,312)

CASH FLOWS FROM FINANCING ACTIVITIES

  Increase (decrease) in redemptions payable(54,693)      607,715
Redemptions        of       Units                    (12,816,865)
(12,171,511)
   Net   cash   used  for  financing  activities     (12,871,558)
(11,563,796)
   Net  decrease  in  cash              (3,037,617)             (
22,078,108)
     Balance     at    beginning    of    period       92,093,924
127,547,473
     Balance     at    end    of    period             89,056,307
105,469,365




<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  financial statements 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.  Prior  to  May

2000, Carr Futures Inc. provided clearing and execution services.

The trading manager is Dean Witter Futures & Currency Management

<PAGE>

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


Inc.   ("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,

1999.   In  June 1999, the FASB issued SFAS No. 137,  "Accounting

for  Derivative Instruments and Hedging Activities - Deferral  of

the  Effective Date of SFAS No. 133", which defers  the  required

implementation of SFAS No. 133 until fiscal years beginning after

June  15, 2000.  However, the Partnership had previously  elected

to adopt the provisions of SFAS No. 133 beginning with the fiscal

year  ended December 31, 1998.  SFAS No. 133 supersedes SFAS  No.

119  and  No.  105,  which  required the  disclosure  of  average

aggregate fair values and contract/notional values, respectively,

of  derivative financial instruments for an entity which  carries

its  assets at fair value.  The application of SFAS No. 133  does

not  have  a  significant  effect on the Partnership's  financial

statements.



The net unrealized gain (loss) on open contracts is reported as a

component  of  "Equity in futures interests trading accounts"  on

the  statements  of financial condition and totaled  $(3,826,696)

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

respectively.



<PAGE>

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


Of  the $3,826,696 net unrealized loss on open contracts at  June

30, 2000, $1,469,530 related to exchange-traded futures contracts

and  $(5,296,226) related to off-exchange-traded forward currency

contracts.



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 June

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

September   2000,   respectively.   Off-exchange-traded   forward

currency  contracts held by the Partnership at June 30, 2000  and

December  31, 1999 mature through September 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

<PAGE>

    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP

            NOTES TO FINANCIAL STATEMENTS (CONCLUDED)
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

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 (loss) on all open futures  contracts,

which   funds,   in   the  aggregate,  totaled  $90,525,837   and

$93,374,811 at June 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  (loss)  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 quarter and six  months

ended  June  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 Six Months Ended June 30, 2000

For  the  quarter  ended June 30, 2000, the Partnership  recorded

total  trading  revenues including interest income of  $3,623,220

and  posted  an increase in Net Asset Value per Unit.   The  most

significant  gains of approximately 10.2% were  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 would remain low and that U.S. demand

will  outstrip  production  this  summer,  when  inventories  are

typically  refilled  for  the  winter.   Additional  gains   were

recorded during May and June from long futures positions in crude

oil  and its related products as the previous upward movement  in

oil prices re-emerged amid rising concerns regarding supplies and

<PAGE>

production  levels.   In  the  agricultural  markets,  gains   of

approximately 1.1% were recorded primarily during June from short

corn  futures positions as corn prices were pressured lower by  a

damp  weather forecast in the U.S. Midwest.  In soft commodities,

gains  of approximately 0.4% were recorded primarily during  June

from  short  coffee  futures positions as prices  decreased  amid

continued  pressure  from  bearish technical  factors  and  large

warehouse supplies.  These gains were partially offset by  losses

of  approximately  6.5% recorded throughout  a  majority  of  the

quarter  primarily  from long positions  in  U.S.  interest  rate

futures  as  prices  declined  on  inflation  fears  provoked  by

stronger-than-forecasted U.S. economic data.   Losses  were  also

recorded  throughout  the  majority of  the  quarter  from  short

positions in German bond futures as prices were pushed higher  by

the  rise  in  U.S.  prices.  In the global stock  index  futures

markets,  losses  of  approximately 1.8% were incurred  primarily

during  April  from long positions in S&P 500  Index  futures  as

fears  of  inflation negatively impacted domestic equity  prices.

In  the  currency  markets,  losses of  approximately  1.2%  were

experienced  primarily  during April  and  early  May  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 metals markets, losses of approximately  0.5%

were  recorded primarily during June from short aluminum  futures

positions as prices increased on consumer and speculative buying.

<PAGE>

Total  expenses  for the three months ended June  30,  2000  were

$1,942,119, resulting in net income of $1,681,101.  The value  of

a  Unit increased from $994.28 at March 31, 2000 to $1,013.27  at

June 30, 2000.



For  the six months ended June 30, 2000, the Partnership recorded

total  trading  revenues including interest income of  $8,712,502

and  posted  an increase in Net Asset Value per Unit.   The  most

significant  gains of approximately 15.1% were  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 would remain low and that U.S. demand

will  outstrip  production  this  summer,  when  inventories  are

typically  refilled  for  the  winter.   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  a

price  setting  mechanism and a promise of  a  modest  production

increase.  In  the currency markets, gains of approximately  1.2%

were  recorded primarily during January from short  positions  in

the  Swedish krona, the euro and the Swiss franc as the value  of

these  European currencies weakened relative to the U.S.  dollar,

hurt  by  skepticism about Europe's economic outlook and lack  of

support from European officials.  During April, profits were



<PAGE>

recorded  from short positions in the euro as the  value  of  the

European  common currency dropped to record lows versus the  U.S.

dollar and British pound.  In the agricultural markets, gains  of

approximately 0.9% were recorded primarily during June from short

corn  futures positions as corn prices were pressured lower by  a

damp  weather  forecast in the U.S. midwest.   These  gains  were

partially  offset  by  losses  of  approximately  7.6%   recorded

throughout  a majority of the second quarter from long  positions

in  U.S.  interest rate futures as prices declined  on  inflation

fears  provoked  by stronger-than-forecasted U.S. economic  data.

Losses  were also recorded throughout the majority of the  second

quarter  from  short positions in German bond futures  as  prices

were  pushed  higher by the rise in U.S. prices.  In  the  global

stock  index futures markets, losses of approximately  3.3%  were

incurred  throughout a majority of the first quarter  and  during

April  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 the  metals  markets,

losses of approximately 2.0% were experienced primarily from long

positions in base metal futures as a previous upward price  trend

reversed  sharply lower during February in response  to  interest

rate  hikes  across the globe.  During June, smaller losses  were

recorded   from  short  aluminum  futures  positions  as   prices

increased on consumer and speculative buying.  Total expenses for



<PAGE>

the six months ended June 30, 2000 were $4,272,915, resulting  in

net  income  of  $4,439,587.  The value of a Unit increased  from

$963.26 at December 31, 1999 to $1,013.27 at June 30, 2000.



For the Quarter and Six Months Ended June 30, 1999

For  the  quarter  ended June 30, 1999, the Partnership  recorded

total  trading  revenues including interest income of  $2,258,612

and,  after  expenses, posted a decrease in Net Asset  Value  per

Unit.  The  most significant net trading losses of  approximately

4.0%  were experienced in the metals markets primarily from  long

positions  in  copper and aluminum futures as base metals  prices

declined  significantly during late May amid  large  supply,  low

demand and the possibility of a production cut in the near future

being  judged  unlikely.   During June,  additional  losses  were

incurred  in  this  market  complex  from  short  copper  futures

positions  as  prices  moved higher due to a  drop  in  warehouse

stocks.  In  the  global stock index futures markets,  losses  of

approximately  0.9% were recorded primarily during mid-April  and

May  from long S&P 500 Index futures positions as domestic equity

prices  dropped  following stronger-than-expected Consumer  Price

Index  data and indications by the Federal Open Market  Committee

that  the  U.S. Federal Reserve is shifting towards a  tightening

bias.  In the agricultural markets, losses of approximately  0.1%

were  experienced primarily from long corn futures  positions  as

prices  regressed in early April in reaction to  reports  by  the

USDA that the expected corn surplus will be one of the biggest in

<PAGE>

years  and  from  declining demand in the Asian  markets.   These

losses  were  partially  offset by gains  of  approximately  2.1%

recorded in the currency markets primarily during April  and  May

from  short Swedish krona positions as its value weakened  versus

the  U.S.  dollar  on  speculation as to when  Sweden  will  join

Europe's  Monetary Union and due to a decline in oil prices.   In

the  global interest rate futures markets, gains of approximately

1.1%  were recorded primarily from long Japanese government bonds

as  prices  rallied  during April after the  Japanese  government

proposed  no  new economic spending plans and on  comments  by  a

Senior  Finance Ministry official that the supply-demand  balance

in  the  market will deteriorate.  In soft commodities, gains  of

approximately  0.6%  were recorded primarily  from  short  cotton

futures  positions as prices dropped in late June on  reports  of

beneficial rainfalls across the Southeastern U.S.  In the  energy

markets,  gains  of  approximately 0.6% were  recorded  primarily

during  April from long natural gas futures positions  as  prices

climbed  following reports of an increase in storage stocks  that

was well-below market expectations.  Total expenses for the three

months  ended June 30, 1999 were $2,938,779, resulting in  a  net

loss  of  $680,167.  The value of a Unit decreased from $1,008.42

at March 31, 1999 to $1,001.31 at June 30, 1999.



For  the six months ended June 30, 1999, the Partnership recorded

total  trading  losses net of interest income of  $3,607,615  and

posted a decrease in Net Asset Value per Unit. The most

<PAGE>

significant losses of approximately 4.4% were experienced in  the

metals  markets primarily from long positions in copper and  zinc

futures as base metals prices declined significantly in late  May

amid  a  large  supply,  low  demand and  the  possibility  of  a

production  cut in the near future being judged unlikely.  During

June, additional losses were incurred in this market complex from

short  copper futures positions as prices moved higher due  to  a

drop  in  warehouse stocks.  In the global interest rate  futures

markets,  losses  of  approximately 3.5% were recorded  primarily

from  short Japanese bond futures positions throughout a majority

of the first quarter as prices increased amid growing speculation

that  the Bank of Japan may underwrite Japanese government bonds.

Fears  that  a  rise  in  Japanese bond yields  would  lead  many

Japanese  money  managers  to  repatriate  assets  from   foreign

investments  to  yen-denominated debt also pushed prices  higher.

Additional  losses were recorded during February and  March  from

short   German  government  bond  futures  positions  as   prices

increased on reports that Germany's industrial production  showed

a  sharp  increase, creating hopes that Europe's biggest  economy

could  be  strengthening.   In the currency  markets,  losses  of

approximately   2.2%   were  experienced  primarily   from   long

Australian  dollar positions throughout a majority of  the  first

quarter  as its value dropped significantly relative to the  U.S.

dollar  on  speculation regarding potential currency devaluations

in  the  Asian region.  Losses recorded from short British  pound

positions  in  March offset profits recorded in February  as  its

value strengthened versus the

<PAGE>

U.S.  dollar as the market scaled back the chances of  a  British

interest rate cut following an announcement of a budget that  was

more  generous than expected.  In the global stock index  futures

markets,  losses of approximately 1.0% 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, following  stronger-than-expected

Consumer Price Index data and on indications by the Federal  Open

Market  Committee  that  the  U.S. Federal  Reserve  is  shifting

towards a tightening bias.  These losses were partially offset by

gains  of  approximately  2.9% 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 by approximately two million barrels a day beginning

April 1st.  Total expenses for the six months ended June 30, 1999

were  $5,878,357,  resulting in a net loss  of  $9,485,972.   The

value of a Unit decreased from $1,084.04 at December 31, 1998  to

$1,001.31 at June 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

<PAGE>

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

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

<PAGE>

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

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

<PAGE>

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.



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.





<PAGE>

The Partnership's Value at Risk in Different Market Sectors

The  following  tables  indicate  the  VaR  associated  with  the

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

by  primary market risk category as of June 30, 2000 and 1999. As

of June 30, 2000 and 1999, the Partnership's total capitalization

was approximately $83 million and $106 million, respectively.

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

     Currency                      (1.45)%             (1.95)%

     Interest Rate                 (1.65)              (2.01)

     Commodity                     (1.87)              (0.51)

     Equity                          (0.06)                (0.93)

Aggregate Value at Risk       (2.75)%             (3.16)%



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

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 June 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



<PAGE>

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 July  1,

1999 through June 30, 2000.



Primary Market Risk Category      High        Low        Average

Currency                         (1.95)%     (1.45)%     (1.75)%

Interest Rate                    (2.01)      (0.89)      (1.53)

Commodity                        (2.07)      (0.93)      (1.46)

Equity                           (1.30)      (0.06)      (0.66)

Aggregate Value at Risk          (3.40)%     (2.26)%     (2.89)%


Limitations on Value at Risk as an Assessment of Market Risk

The  face  value  of the market sector instruments  held  by  the

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

<PAGE>

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, gives 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;

     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 June 30, 2000 and 1999 and for the end of  the

four quarterly reporting periods from July 1, 1999 through June

<PAGE>

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.  However, such balances, as  well

as  any market risk they may represent, are immaterial.  At  June

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

97%  of  its  total  Net  Asset Value.  A decline  in  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



<PAGE>

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  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  as of June 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

<PAGE>

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.   For  the  second  quarter  of  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  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.



Interest  Rate. The second largest market exposure  at  June  30,

2000  was  in  the  interest rate complex.  Exposure  was  spread

across German 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

<PAGE>

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 which have the

most  effect  on  the Partnership are changes  in  long-term,  as

opposed  to short-term, rates.  Most of the speculative  interest

rate futures positions held by the Partnership are in medium-  to

long-term  instruments.  Consequently, even a material change  in

short-term  rates  would have little effect on  the  Partnership,

were the medium- to long-term rates to remain steady.



Commodity.

Energy.  On June 30, 2000, the Partnership's energy exposure  was

shared  primarily  by  futures contracts in  the  crude  oil  and

natural  gas  markets.  Price movements in these  markets  result

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.

<PAGE>

Metals.    The  Partnership's primary metals market  exposure  at

June  30,  2000 was to fluctuations in the price of Aluminum  and

Nickel.



Soft  Commodities and Agriculturals.  On June 30, 2000,  most  of

the  exposure  to these sectors was in the corn, soybean,  cotton

and  coffee  markets.   Supply  and demand  inequalities,  severe

weather disruption and market expectations affect price movements

in these markets.



Equity. Exposure to stock indices on June 30, 2000 was limited to

a small position in the Nikkei stock index.



Qualitative Disclosures Regarding Non-Trading Risk Exposure

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

Partnership as of June 30, 2000:



Foreign  Currency Balances.    The Partnership's primary  foreign

currency balances are in euros and 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

<PAGE>

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 for the quarter ended March 31, 2000  and

Form 10-K for the year ended December 31, 1999.



On  October  25,  1996,  the Market Surveillance  Committee  (the

"Committee")  of  the National Association of Securities  Dealers

("NASD")  filed  a formal complaint against MS &  Co.  and  seven

current  and former traders, alleging violations of certain  NASD

rules  relating  to manipulative and deceptive practices,  locked

and  crossed  markets, and failure to supervise.   Hearings  were

held  in  June  and July 1997.  On April 13, 1998  the  Committee

ruled  that  MS  &  Co.  and the seven  traders  had  engaged  in

manipulative  and  deceptive practices and improperly  locked  or

crossed  markets, but not that MS & Co. had failed  to  supervise

its  traders.  The Committee levied a fine of $1,000,000 on MS  &

Co.,  a  fine of $100,000 and a 90-day suspension on one  of  its

former  traders, and fines of $25,000 and 30-day  suspensions  on

each of the remaining current and former traders.  On January 18,

2000  the National Adjudicatory Council, which heard the  appeal,

issued a ruling which upheld the Committee's April 1998 decision,

however,  the  National Adjudicatory Council reduced  the  firm's

fine to $495,000,





<PAGE>

reversed  all previously imposed suspensions against the traders,

reduced  the fine for each of six traders to $2,500 and dismissed

all charges against the seventh trader.



On  January  11,  1999,  the Securities and  Exchange  Commission

brought an action against 28 NASDAQ market makers, including MS &

Co.,  and  51 individuals, including one current and  one  former

trader  employed  by MS & Co., for certain conduct  during  1994.

The  core  of  the charges against MS & Co. concerns improper  or

undisclosed  coordination  of price  quotes  with  other  broker-

dealers  and  related  reporting, recordkeeping  and  supervisory

deficiencies  in violation of Sections 15(b)(4)(E), 15(c)(1)  and

(2)  and  17(a) of the Securities Exchange Act and Rules  15c1-2,

15c2-7  and  17a-3 promulgated thereunder.  Without admitting  or

denying  the charges, MS & Co. consented to the entry of a  cease

and  desist  order  and  to the payment of  a  civil  penalty  of

$350,000,  disgorgement of $4,170 and to submit  certain  of  its

procedures to an independent consultant for review.  In addition,

one  current and one former trader employed by MS & Co.  accepted

suspensions  of less than two months each and were fined  $25,000

and $30,000 respectively.



Item 5.   OTHER INFORMATION

Effective July 1, 2000, Lewis A. Raibley, III resigned  as  Chief

Financial Officer and a Director of Demeter and DWFCM.  Effective



<PAGE>

July 10, 2000, Raymond E. Koch replaced Lewis A. Raibley, III  as

Chief Financial Officer of Demeter.


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.

10.05           Customer  Agreement, dated  as  of  May  1,  2000
          between   Morgan   Stanley  &  Co.  Incorporated,   the
          Partnership  and  Dean Witter Reynolds  inc.  is  filed
          herewith.

(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 11, 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.