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 September 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 Corp.
Two World Trade Center, New York, NY 62 Fl.         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 L.P.

             INDEX TO QUARTERLY REPORT ON FORM 10-Q

                     September 30, 1997

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

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

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

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

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

     Statements of Cash Flows for the Nine Months Ended
     September 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..13-20

Part II. OTHER INFORMATION

Item 1. Legal Proceedings..............................21-22

Item 5. Other Information.................................22

Item 6. Exhibits and Reports on Form 8-K..................23






</TABLE>








<PAGE>
<TABLE>

           DEAN WITTER DIVERSIFIED FUTURES FUND L.P.
               STATEMENTS OF FINANCIAL CONDITION

<CAPTION>

                                                September 30,   December 31,
                                                    1997           1996
                                                     $              $
                                                (Unaudited)
ASSETS
<S>                                                 <C>           <C>
Equity in Commodity futures trading accounts:
 Cash                                               139,549,772  166,737,088
 Net unrealized gain (loss) on  open   contracts      7,275,895     (10,164)

 Total Trading Equity                               146,825,667  166,726,924

 Interest receivable (DWR)                              509,204      574,678
    Due  from  DWR                                       49,418            -
 Total Assets                                       147,384,289  167,301,602


LIABILITIES AND PARTNERS' CAPITAL

Liabilities

 Redemptions payable                                 2,605,612    2,811,995
 Accrued management fee (DWFCM)                        355,773      455,428
 Accrued brokerage commissions (DWR)                   342,938      208,243
 Administrative expenses payable                       155,517      106,568
 Accrued transaction fees and costs                     27,323       32,213

 Total Liabilities                                   3,487,163    3,614,447


Partners' Capital

 Limited Partners (147,650.508 and
  177,301.806 Units, respectively)                 141,709,552    161,609,600
 General Partner (2,279.285 Units)                   2,187,574     2,077,555

 Total Partners' Capital                           143,897,126    163,687,155

 Total Liabilities and Partners' Capital           147,384,289    167,301,602


NET ASSET VALUE PER UNIT                                959.76        911.49

<FN>

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

           DEAN WITTER DIVERSIFIED FUTURES FUND L.P.
                    STATEMENTS OF OPERATIONS
                           (Unaudited)



<CAPTION>


                              For the Quarters Ended September 30,

                                           1997            1996
                                             $            $
REVENUES
<S>                                      <C>               <C>
 Trading profit:
       Realized                           2,501,495      2,891,666
Net change in unrealized                  7,003,329   11,362,983

      Total Trading Results               9,504,824  14,254,649

 Interest Income (DWR)                    1,572,409     1,602,020

      Total Revenues                     11,077,233   15,856,669


EXPENSES

   Brokerage   commissions  (DWR)         2,477,991     2,918,020
Management   fees   (DWFCM)              1,098,735      1,188,119
Transaction   fees   and  costs             208,337       200,962
Administrative expenses                     51,000          9,000

      Total Expenses                     3,836,063   4,316,101

NET INCOME                               7,241,170  11,540,568


NET INCOME ALLOCATION

    Limited   Partners                    7,137,732    11,403,524
General Partner                             103,438      137,044

NET INCOME PER UNIT

Limited Partners                              45.38         60.13
General Partner                               45.38         60.13

<FN>

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

<PAGE>
<TABLE>

           DEAN WITTER DIVERSIFIED FUTURES FUND L.P.
                    STATEMENTS OF OPERATIONS
                           (Unaudited)


<CAPTION>

                             For the Nine Months Ended September 30,

                                       1997            1996
                                        $            $
REVENUES
<S>                         <C>              <C>
 Trading profit (loss):
       Realized                          9,092,269    (9,464,278)
Net change in unrealized           7,286,059   4,199,900

      Total Trading Results       16,378,328  (5,264,378)

 Interest Income (DWR)            4,975,667    5,120,541

      Total Revenues             21,353,995     (143,837)


EXPENSES

 Brokerage commissions (DWR)       8,391,865 10,273,703
 Management fees (DWFCM)           3,559,022  3,844,588
 Transaction fees and costs         684,099     780,077
 Administrative expenses            144,000       49,000


      Total Expenses              12,778,986 14,947,368

NET INCOME (LOSS)                  8,575,009  (15,091,205)


NET INCOME (LOSS) ALLOCATION

 Limited Partners                  8,464,990 (14,933,404)
 General Partner                     110,019    (157,801)


NET INCOME (LOSS) PER UNIT

 Limited Partners                      48.27      (69.23)
 General Partner                      48.27       (69.23)


<FN>

        The accompanying footnotes are an integral part
                 of these financial statements.
</TABLE>
<PAGE>
<TABLE>
           DEAN WITTER DIVERSIFIED FUTURES FUND L.P.
           STATEMENTS OF CHANGES IN PARTNERS' CAPITAL
     For the Nine Months Ended September 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                       -     (14,933,404)    (157,801)   (15,091,205)

Redemptions          (19,873.982)    (16,498,367)          -     (16,498,367)

Partners' Capital
 September 30, 1996  187,475.555    $160,597,652   $1,976,540   $162,574,192





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

Net Income                    -        8,464,990     110,019        8,575,009

Redemptions          (29,651.298)    (28,365,038)          -      (28,365,038)

Partners' Capital
 September 30, 1997  149,929.793    $141,709,552   $2,187,574     $143,897,126





<FN>



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

</TABLE>




<PAGE>
<TABLE>
           DEAN WITTER DIVERSIFIED FUTURES FUND L.P.
                    STATEMENTS OF CASH FLOWS
                           (Unaudited)


<CAPTION>



                             For the Nine Months Ended September 30,

                                       1997            1996
                                        $            $
CASH FLOWS FROM OPERATING ACTIVITIES
<S>                                    <C>              <C>
Net   income   (loss)                  8,575,009         (15,091,205)
Noncash item included in net income (loss):
 Net change in unrealized             (7,286,059)         (4,199,900)

(Increase) decrease in operating assets:
    Interest receivable (DWR)        65,474              161,032
    Due from DWR                     (49,418)            116,467

Increase (decrease) in operating liabilities:
    Accrued management fee (DWFCM)      (99,655)         (72,578)
    Accrued brokerage commissions (DWR)  (134,695)      (341,876)
    Administrative expenses payable        48,949        (17,633)
    Accrued transaction fees and costs     (4,890)        (32,525)

Net  cash provided by (used for) operating activities   1,384,105 (19,478,218)


CASH FLOWS FROM FINANCING ACTIVITIES

   Increase (decrease) in redemptions payable    (206,383)   2,030,956
   Redemptions  of  units                     (28,365,038) (16,498,367)


Net cash used for financing activities        (28,571,421) <14,467,411)

Net   decrease  in  cash                      (27,187,316) (33,945,629)

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

Balance at end of period                      139,549,772  152,632,188


<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 for most of the Partnership's  transactions  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").



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 four months, DWR will continue to

<PAGE>

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


perform  certain  services relating to the Partnership's  futures

trading including clearance.  After such transaction period,  DWR

will continue to serve as a non-clearing commodity broker for the

Partnership  with  Carr  providing  all  clearing  services   for

Partnership transactions.


2. Related Party Transactions

The  Partnership's  cash  is on deposit  with  DWR  and  Carr  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.


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 September 30,  1997  and

December 31, 1996, open contracts were:

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


                               Contract or Notional Amount
                            September 30, 1997      December  31,
1996                                       $                   $
Exchange-Traded-Contracts
 Financial Futures:
   Commitments to Purchase       5,324,000                 -
   Commitments to Sell                   -                 -
 Commodity Futures:
   Commitments to Purchase      81,363,000        28,117,000
   Commitments to Sell          60,617,000        84,112,000
 Foreign Futures:
   Commitments to Purchase     228,880,000        86,391,000
   Commitments to Sell          65,269,000       163,838,000
Off-Exchange-Traded
 Forward Currency Contracts
   Commitments to Purchase     278,256,000       442,642,000
   Commitments to Sell         275,115,000       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

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 $7,275,895

and  $(10,164)  at  September 30, 1997  and  December  31,  1996,

respectively.   Of  the $7,275,895 net unrealized  gain  on  open

contracts  at September 30, 1997, $4,492,936 related to exchange-

traded futures contracts and $2,782,959 related to off-exchange-

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



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

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

1998  and  June 1997, respectively.  Off-exchange-traded  forward

currency contracts held by the Partnership at September 30,  1997

and  December  31, 1996 mature through January 1998 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  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 either DWR or  Carr

acts as the futures commission merchant or the 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

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




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

$144,013,245 and $170,404,565 at September 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 Carr, the sole counterparty on all such contracts,

to   perform.   Carr's  parent,  Credit  Agricole  Indosuez,  has

guaranteed Carr's obligations to the Partnership.




For  the nine months ended September 30, 1997 and the year  ended

December   31,   1996,  the  average  fair  value  of   financial

instruments held for trading purposes was as follows:

                                       September 30, 1997
                                       Assets        Liabilities
                                         $               $

Exchange-Traded Contracts:
  Financial Futures                 51,824,000      203,668,000
  Commodity Futures                 60,285,000       73,082,000
  Foreign Futures                  185,189,000      114,331,000
Off-Exchange-Traded Forward
 Currency Contracts                270,314,000      395,392,000


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



                                        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







































<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 Carr, and are used by  the

Partnership as margin to engage in futures interest trading.  DWR

and Carr hold 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 and Carr  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

<PAGE>

restrictions on redemptions.  However, since the commencement  of

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 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 Nine Months Ended September 30, 1997

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

trading revenues including interest income were $11,077,233.



<PAGE>

During  the third quarter, the Partnership posted a gain  in  Net

Asset  Value per Unit.  The most significant gains were  recorded

in  financial futures due primarily to an upward trend in  global

interest rate futures prices during July and September.   Smaller

profits  were recorded in global stock index futures  from  short

Nikkei  Index  futures  during  the  quarter.   In  the  currency

markets,  gains were recorded during July from short German  mark

positions  as the value of the U.S. dollar increased  versus  the

German  mark.   During  August, the  value  of  the  German  mark

increased  versus the U.S. dollar, resulting in  losses  for  the

Partnership. This upward price move resulted in new  long  German

mark  positions,  which  profited  during  September.  Additional

currency  gains  were  recorded from transactions  involving  the

Malaysian  ringgit,  Australian  dollar  and  Swedish  krona.   A

portion  of these currency gains was offset by losses experienced

from  transactions involving the British pound and Japanese  yen.

In  the energy markets, gains were recorded from long natural gas

positions  as  prices increased during August and September.   In

metals,  gains were recorded from long zinc futures  during  July

and  long silver futures positions during September.  Gains  were

also  recorded from short copper futures positions during  August

and  September.  Trading losses in aluminum futures during August

offset  a  portion  of  these gains.   In  soft  commodities  and

agricultural markets, losses were recorded as a result of  short-

term volatile price movement in a majority of the markets traded,

particularly, cocoa, cotton and corn futures.  Total expenses for

the quarter were $3,836,063, resulting in net income of

<PAGE>

$7,241,170.   The value of an individual Unit in the  Partnership

increased  from $914.38 at June 30, 1997 to $959.76 at  September

30, 1997.

                                

For  the  nine months ended September 30, 1997, the Partnership's

total   trading   revenues   including   interest   income   were

$21,353,995.  During  the  first  three-quarters  of  year,   the

Partnership posted a gain 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

relative  to  most  major currencies during  the  period  January

through  April.   Additional currency gains were recorded  during

the  third  quarter from transactions involving the German  mark,

Malaysian  ringgit,  Swedish  krona  and  Australian  dollar.   A

portion  of  these  gains was offset by losses from  transactions

involving  the British pound and Canadian dollar during February,

March  and  May.  In metals, gains experienced  from  short  gold

futures  positions  in January and July from  long  zinc  futures

positions  in July and long silver futures positions in September

more  than offset losses recorded from base metals futures during

the  second  quarter.    A  portion of the Partnership's  overall

gains  for the first nine months of the year was offset by losses

from  trading energy futures as oil and gas prices moved  without

consistent  direction for a majority of the year.  One  exception

in  the  energy  complex  was natural gas futures  prices,  which

increased during the third quarter, thus resulting in gains  from

long  positions.   In  soft  commodities,  losses  recorded  from

trading

<PAGE>

cocoa,  cotton and sugar futures during the third quarter  offset

profits  recorded  during the first half of the  year  from  long

coffee  futures positions.  In agricultural markets, losses  were

recorded  from trading corn futures during the third quarter  and

soybean  oil  during  the first half of the year.   In  financial

futures, trading gains recorded from short Nikkei Index and  long

global  interest rate futures during the third quarter more  than

offset the losses experienced in global interest rate futures  as

a  result  of short-term price volatility during the  first  four

months  of  the  year.   Total  expenses  for  the  period   were

$12,778,986, resulting in net income of $8,575,009.  The value of

an  individual Unit in the Partnership increased from $911.49  at

December 31, 1996 to $959.76 at September 30, 1997.

                                

For the Quarter and Nine Months Ended September 30, 1996

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

trading  revenues  including interest  income  were  $15,856,669.

During  the third quarter, the Partnership posted an increase  in

Net  Asset  Value per Unit.  The most significant  trading  gains

were   recorded  in  the  financial  futures  markets  from  long

Australian,  European  and  Japanese bond  futures  positions  as

global interest rate futures prices moved steadily higher between

July and September.  Additional gains were recorded in the energy

markets from long positions in crude, heating and gas oil futures

as prices in these markets trended higher throughout the quarter.





<PAGE>

Gains were also recorded in metals as a downward move in aluminum

futures prices during September resulted in gains from previously

established short positions.  A portion of the overall gains  for

the  quarter was offset by losses experienced in the agricultural

currency  and  soft  commodities markets.   In  the  agricultural

markets, losses were recorded as soybean and corn futures  prices

moved  in  an  inconsistent pattern during most of  the  quarter.

Additional  losses were recorded in the currency  markets  during

August  from  short  Australian dollar  positions  as  its  value

reversed  higher  relative to the U.S.  dollar  and  other  world

currencies  and from short Japanese yen positions  as  its  value

increased  sharply  during  late August.   In  soft  commodities,

losses  were recorded as a result of trendless movement in cotton

and coffee prices throughout most of the quarter.  Total expenses

for  the  quarter  were $4,316,101, resulting in  net  income  of

$11,540,568.  The value of an individual Unit in the  Partnership

increased  from $807.05 at June 30, 1996 to $867.18 at  September

30, 1996.



For  the  nine months ended September 30, 1996, the Partnership's

total  trading  losses  net  of interest  income  were  $143,837.

During  the first nine months, the Partnership posted a  decrease

in  Net  Asset Value per Unit.  The most significant losses  were

recorded in soft commodities as a result of choppy price movement

in  coffee,  cotton and cocoa futures during a  majority  of  the

first  nine months of the year.  Additional losses were  recorded

in  the  agricultural  markets as a  result  of  trendless  price

movement in

<PAGE>

soybean products during the first and third quarters of the year.

Gains  from  long  corn  and wheat futures positions  during  the

second  quarter offset a portion of these losses.   In  financial

futures  trading, losses were recorded as a result of  short-term

volatile movement in global stock index futures prices during the

first  nine months of the year.  In interest rate futures,  gains

experienced  during  the third quarter from long  Australian  and

European  bond futures positions more than offset losses recorded

during  the first half of the year in U.S. and Japanese  interest

rate  futures.   In  the currency markets, losses  were  recorded

during  February as a result of a sharp and sudden trend reversal

in  the  previous downward move in the value of the Japanese  yen

and  most European currencies, which had resulted in gains during

January.  Smaller currency losses were recorded from transactions

involving  the  Canadian dollar.  Trading gains experienced  from

transactions  involving  the German mark  relative  to  the  U.S.

dollar and other world currencies during April and July helped to

mitigate currency losses.  A portion of overall losses during the

first  nine  months of the year was offset by  gains  from  short

aluminum  futures  positions as prices  declined  sharply  during

September.   These  gains,  coupled  with  smaller  profits  from

trading  gold, more than offset losses experienced in silver  and

other  base  metals  during the first half of  the  year.   Gains

experienced during the third quarter in the energy markets from a

strong  upward move in heating, gas and crude oil futures  prices

more  than  offset losses experienced from trading  unleaded  gas

futures earlier in the year.  Total expenses for the period were

<PAGE>

$14,947,368, resulting in a net loss of $15,091,205.   The  value

of  an  individual Unit in the Partnership decreased from $936.41

at December 31, 1995 to $867.18 at September 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 other  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)

November   7,  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.