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 March 31, 1998 or

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

Commission File No. 33-90360

    DEAN  WITTER  DIVERSIFIED  FUTURES FUND  LIMITED  PARTNERSHIP
(Exact name of registrant as specified in its charter)


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

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

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


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


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

Yes     X           No












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

             INDEX TO QUARTERLY REPORT ON FORM 10-Q

                       March 31, 1998

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

     Statements of Financial Condition March 31, 1998
     (Unaudited) and December 31, 1997.....................2

     Statements of Operations for the Quarters Ended
     March 31, 1998 and 1997 (Unaudited)...................3

     Statements of Changes in Partners' Capital for the
        Quarters Ended March 31, 1998 and 1997
     (Unaudited)...........................................4

     Statements of Cash Flows for the Quarters Ended
     March 31, 1998 and 1997 (Unaudited)...................5

     Notes to Financial Statements (Unaudited)......... 6-10

Item 2. Management's Discussion and Analysis of

Financial Condition and Results of Operations..11-14


Part II. OTHER INFORMATION

Item 1. Legal Proceedings..............................15-16

Item 6. Exhibits and Reports on Form 8-K..................17




</TABLE>















<PAGE>
<TABLE>
                 PART I.  FINANCIAL INFORMATION
                  PART 1.  FINANCIAL STATEMENTS

    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP
               STATEMENTS OF FINANCIAL CONDITION

<CAPTION>

                                     March 31,     December 31,
                                        1998           1997
                                         $              $
                                    (Unaudited)
ASSETS
<S>                              <C>              <C>
Equity in Commodity futures trading accounts:
 Cash                            138,946,989    127,701,224
  Net  unrealized  gain  (loss) on open  contracts    (4,684,722)
20,684,288

 Total Trading Equity            134,262,267    148,385,512

Interest receivable (DWR)            454,210        497,966
Due from DWR                         143,395              89,180

 Total Assets                    134,859,872     148,972,658


LIABILITIES AND PARTNERS' CAPITAL

Liabilities

 Redemptions payable               2,725,966    2,976,998
 Accrued management fee (DWFCM)      344,947      352,057
 Administrative expenses payable      99,394         91,980

 Total Liabilities                 3,170,307      3,421,035


Partners' Capital

 Limited Partners (133,810.207 and
  140,342.310 Units, respectively) 129,483,972    143,225,512
 General Partner (2,279.285 Units)   2,205,593      2,326,111

 Total Partners' Capital        131,689,565    145,551,623

  Total  Liabilities and Partners' Capital   134,859,872     148,
972,658


NET ASSET VALUE PER UNIT             967.67           1,020.54

<FN>

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

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


<CAPTION>

                                For the Quarters Ended March 31,

                                       1998            1997
                                        $            $
REVENUES
<S>                       <C>                <C>
 Trading profit (loss):
    Realized                    19,956,638     11,502,267
    Net change in unrealized    (25,369,010)    3,481,594

      Total Trading Results      (5,412,372)  14,983,861

 Interest Income (DWR)           1,428,716      1,724,246

      Total Revenues             (3,983,656)  16,708,107


EXPENSES

 Brokerage commissions (DWR)     2,193,253     3,050,337
 Management fee (DWFCM)          1,061,876      1,276,057
 Transaction fees and costs          163,448             248,792
 Administrative expenses            31,000         43,000

      Total Expenses             3,449,577      4,618,186

NET INCOME (LOSS)               (7,433,233)    12,089,921


NET INCOME (LOSS) ALLOCATION

 Limited Partners                (7,312,715)   11,938,148
                          General                         Partner
(120,518)                            151,773


NET INCOME (LOSS) PER UNIT

                         Limited                         Partners
(52.87)                                             66.59
                          General                         Partner
(52.87)                                            66.59


<FN>

        The accompanying footnotes are an integral part
                 of these financial statements.
</TABLE>
<PAGE>
<TABLE>
    DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP
           STATEMENTS OF CHANGES IN PARTNERS' CAPITAL
         For the Quarters Ended March 31, 1998 and 1997
                          (Unaudited)


<CAPTION>


                          Units of
                        Partnership Limited   General
                          Interest   Partners Partner    Total


<S>                            <C>                            <C>
<C>                     <C>

Partners' Capital
   December 31, 1996     179,581.091$161,609,600       $2,077,555
$163,687,155
Net   Income                     -      11,938,148        151,773
12,089,921

Redemptions                  (9,933.325)(9,847,641)             -
(9,847,641)

Partners' Capital
   March 31, 1997        169,647.766$163,700,107       $2,229,328
$165,929,435



Partners' Capital,
     December  31,  1997     142,621.595$143,225,512   $2,326,111
$145,551,623

Net  Loss                       -              (7,312,715)     (1
20,518)                      (7,433,233)

Redemptions                (6,532.103)     (6,428,825)          -
(6,428,825)

Partners' Capital
   March 31, 1998         136,089.492$129,483,972       $2,205,593
$131,689,565






<FN>



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

</TABLE>



<PAGE>
<TABLE>

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



<CAPTION>


                                For the Quarters Ended March 31,

                                       1998            1997
                                        $            $
CASH FLOWS FROM OPERATING ACTIVITIES
<S>                        <C>                           <C>
Net   income   (loss)                  (7,433,233)              1
2,089,921
Noncash item included in net income (loss):
     Net  change  in  unrealized                       25,369,010
(3,481,594)

(Increase) decrease in operating assets:
    Interest receivable (DWR)            43,756          (14,762)
      Due  from  DWR                      (54,215)              (
279,461)

Increase (decrease) in operating liabilities:
    Accrued management fee (DWFCM)      (7,110)          (13,797)
    Administrative expenses payable   7,414              25,200
    Accrued brokerage commissions (DWR)-                 261,489
      Accrued   transaction  fees  and   costs                  -
2,482

Net   cash   provided   by  operating  activities      17,925,622
8,589,478


CASH FLOWS FROM FINANCING ACTIVITIES


Decrease   in  redemptions  payable      (251,032)              (
535,118)
Redemptions   of  units                (6,428,825)              (
9,847,641)

Net  cash  used  for  financing  activities      (6,679,857)    (
10,382,759)

Net  increase  (decrease)  in  cash      11,245,765             (
1,793,281)
Balance      at     beginning     of     period       127,701,224
166,737,088

Balance      at      end     of     period            138,946,989

164,943,807                                          <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 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,  1997  Annual

Report on Form 10-K.


1. Organization

Dean  Witter  Diversified Futures Fund Limited 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.  The  general

partner  for  the  Partnership is Demeter Management  Corporation

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

Reynolds Inc. ("DWR"), with an unaffiliated broker, Carr Futures,

Inc.  ("Carr"), providing clearing and execution  services.   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 & Co. ("MSDW").



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.

                                

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



Treasury  Bill rates. Brokerage expenses incurred by the Partner-

ship  are  paid  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 in interest

rates,  stock  indices, commodities and currencies.  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 March 31, 1998 and December 31, 1997,  open

contracts were:

                                Contract or Notional Amount
                            March 31, 1998   December 31, 1997
                                    $                   $
Exchange-Traded Contracts
 Financial Futures
   Commitments to Purchase       20,544,000       44,959,000
   Commitments to Sell          133,764,000                -
 Commodity Futures:
   Commitments to Purchase        9,684,000        6,287,000
   Commitments to Sell           44,295,000       94,480,000
 Foreign Futures:
   Commitments to Purchase      189,310,000      305,847,000
   Commitments to Sell          147,398,000       68,688,000
Off-Exchange-Traded
 Forward Currency Contracts
   Commitments to Purchase      474,908,000      282,748,000
   Commitments to Sell          560,011,000      546,818,000

                                

                                

                                

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




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 gain (loss) on open contracts is reported as a

component  of  "Equity in Commodity futures trading accounts"  on

the  Statements  of Financial Condition and totaled  $(4,684,722)

and  $20,684,288  at  March  31,  1998  and  December  31,  1997,

respectively.



Of  the  $(4,684,722) net unrealized loss on  open  contracts  at

March  31,  1998,  $246,640  related to  exchange-traded  futures

contracts and $(4,931,362) related to off-exchange-traded forward

currency contracts.



Of  the  $20,684,288  net unrealized gain on  open  contracts  at

December 31, 1997, $7,311,878 related to exchange-traded  futures

contracts and $13,372,410 related to off-exchange-traded  forward

currency contracts.


Exchange-traded  futures contracts held  by  the  Partnership  at

March 31, 1998 and December 31, 1997 mature through December 1998

and   June  1998,  respectively.   Off-exchange  traded   forward

currency

                                

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


contracts  held  at March 31, 1998 and December 31,  1997  mature

through July 1998 and April 1998, 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  non-performance. 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 and  Carr,  as

the  futures  commission merchants for all of  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 totaled $139,193,629 and $135,013,102 at  March  31,

1998  and  December 31, 1997, 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

                                

<PAGE>

DEAN WITTER DIVERSIFIED FUTURES FUND LIMITED PARTNERSHIP

           NOTES TO FINANCIAL STATEMENTS (CONCLUDED)


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 Carr, the sole counterparty on all of such

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

has guaranteed Carr's obligations to the Partnership.


For  the quarter ended March 31, 1998 and the year ended December

31,  1997,  the average fair value of financial instruments  held

for trading purposes was as follows:

                                               March 1998
                                       Assets         Liabilities
                                         $                 $

Exchange-Traded Contracts:
  Financial Futures                    70,202,000     33,441,000
  Commodity Futures                     3,993,000     63,983,000
  Foreign Futures                     276,716,000     95,360,000
Off-Exchange-Traded Forward
 Currency Contracts                   423,253,000    564,503,000



                                           December 1997
                                       Assets         Liabilities
                                         $                 $

Exchange-Traded Contracts:
  Financial Futures                  45,777,000       157,169,000
  Commodity Futures                  62,602,000        74,762,000
  Foreign Futures                   185,126,000       107,251,000
Off-Exchange-Traded Forward
 Currency Contracts                 320,498,000       431,962,000







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

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

commodity  interest  trading accounts  with  DWR  and  Carr,  the

commodity  brokers and are used by the Partnership as  margin  to

engage   in  commodity  futures,  forward  contracts  and   other

commodity  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 commodity futures contracts, forward contracts  and

other  commodity  interests, it is expected that the  Partnership

will continue to own such liquid assets for margin purposes.



The  Partnership's  investment  in commodity  futures  contracts,

forward  contracts and other commodity interests may be illiquid.

If  the  price for a futures contract for a particular  commodity

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

limit",  positions  in  the commodity can neither  be  taken  nor

liquidated  unless  traders are willing to effect  trades  at  or

within  the  limit.   Commodity futures 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 commodity futures positions.







<PAGE>

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  subsequent

periods.   As  redemptions  are  at  the  discretion  of  Limited

Partners,  it  is  not  possible  to  estimate  the  amount   and

therefore, the impact of future redemptions.



Results of Operations

For the Quarter Ended March 31, 1998

For  the  quarter  ended March 31, 1998, the Partnership's  total

trading losses net of interest income were $3,983,656. During the

first  quarter, the Partnership posted a loss in Net Asset  Value

per  Unit.  The most significant losses were recorded in currency

markets  due  primarily to short-term volatility  caused  by  the

economic instability in the Far East.  During January, the upward

trend  in the value of the U.S. dollar reversed lower in response

to  the Japanese government's proposed economic stimulus package.

This reversal resulted in losses for previously established short

<PAGE>

Japanese yen positions.  Additional currency losses were recorded

in  February  as  the  value of the yen moved without  consistent

direction.    Smaller  losses  were  recorded  from  transactions

involving  the German mark, Australian dollar and British  pound.

A small portion of these losses was offset by gains in March from

transactions involving the German mark, Swiss franc and  Japanese

yen.   In  metals, losses were recorded from long silver  futures

positions  as  silver  prices reversed lower  in  February  after

rallying  higher  during January.  Smaller losses  were  recorded

from  trading  base  metals futures during March.   Additionally,

trendless  movement in soybean futures prices during January  and

March  resulted in losses for the Partnership.  A portion of  the

Partnership's overall losses for the quarter was offset by  gains

in  financial  futures  trading.  The most significant  of  these

gains were recorded from long European bond futures positions, as

well  as from long S&P 500 Index futures positions, as prices  in

these  markets  trended  higher  throughout  a  majority  of  the

quarter.  In the soft commodities and energy markets, gains  were

recorded  from  short  sugar and crude oil futures  positions  as

prices trended lower during January and February before reversing

higher  during  March.  Total  expenses  for  the  quarter   were

$3,449,577, resulting in a net loss of $7,433,233.  The value  of

an individual Unit in the Partnership decreased from $1,020.54 at

December 31, 1997 to $967.67 at March 31, 1998.



For the Quarter Ended March 31, 1997

For  the  quarter  ended March 31, 1997, the Partnership's  total

trading revenues including interest income were $16,708,107.

<PAGE>

During  the first quarter, the Partnership posted an increase  in

Net  Asset  Value per Unit.  The most significant  trading  gains

were  recorded  in  the  currency  markets  as  a  result  of   a

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

yen  and  most  major  European  currencies  during  January  and

February.   A  portion of these gains was offset by  losses  from

transactions involving the British pound, as well as the Canadian

and  Australian dollars, during February and March.   Gains  were

also  recorded  in  soft  commodities from  long  coffee  futures

positions as prices in this market trended steadily higher during

January  and  February,  before  reversing  lower  during  March.

Additional trading gains were recorded in the metals markets from

short gold futures positions as gold prices, which began trending

lower  during  late  1996, continued to trend lower  in  January.

Gains  were also recorded from long base metals futures positions

as  copper and zinc futures prices increased from late January to

early  March.   Smaller gains were recorded in  the  agricultural

markets   from  long  corn,  soybean  meal  and  soybean  futures

positions.  A  portion  of the Partnership's  overall  gains  was

offset  by short-term volatile price movement in global  interest

rate futures.  Smaller losses were recorded in the energy markets

during  January  and March.  Total expenses for the  period  were

$4,618,186, generating net income of $12,089,921.  The  value  of

an  individual Unit in the Partnership increased from $911.49  at

December 31, 1996 to $978.08 at March 31, 1997.









<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 interest in limited partnership

commodity pools sold by DWR.  Named defendants include  DWR,

Demeter,   DWFCM,  MSDW,  (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,

alleging,  among other things, that the defendants committed

fraud,    deceit,   negligent   misrepresentation,   various

violations  of the California Corporations Code, intentional

and  negligent  breach  of fiduciary  duty,  fraudulent  and

unfair business practices, unjust enrichment, and conversion

in the sale and operation of the various limited partnership

commodity pools.  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.  A  consolidated  and   amended

complaint in the action pending in the Supreme Court of  the

State of New York was

<PAGE>

filed  on  August  13,  1997, alleging that  the  defendants

committed  fraud,  breach of fiduciary duty,  and  negligent

misrepresentation in the sale and operation of  the  various

limited partnership commodity pools.  On December 16,  1997,

upon  motion  of the plaintiffs, the action pending  in  the

Superior  Court  of  the State of Delaware  was  voluntarily

dismissed without prejudice. 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  could  be  added as defendants.   The  Dean  Witter

Parties  believe that they and the Partnership  have  strong

defenses  to, and they 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.

                                

                                

                                

                                

                                

                                

                                

                                

                                

<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)

May   11,   1998                    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.