The following tutorial was originally posted on the old Daz3D site, but has been broken for some time.The most important file, the “Dyn to Morphs” Python script that does the job, is now available here, with the tutorial in PDF format:
Dynamic Poser clothing export script

Here is the original tutorial, with missing images and missing downloads:
http://docs.daz3d.com/doku.php/artzone/pub/tutorials/dazstudio/studio-export02

Forum post with some details about Carrara 8.5 beta, by Argus1000:
All you have to do is animate the cloth on the figure in the cloth room and (very important) use the “dyn_to_morphs” Python script on the animated cloth.
Save the file as a PZ3, and open it in Carrara. Now that used to work right off the bat in Carrara 8, but now in Carrara 8.5 (maybe because it’s still a beta) you have to do a little work around. For some reason the figure that is imported is now out of shape;  so I save the animation as an NLA , import a new figure from the browser, transfer the animated cloth from the old figure to the hip of the new figure, and then delete the old figure.
Source: http://www.daz3d.com/forums/viewthread/5498/P15/

Tutorial on Poser Dynamic clothes:
http://my.smithmicro.com/tutorials/299.html

If you have anything to add, comments, video clips or images, please post here:
http://www.daz3d.com/forums/viewthread/13199/

Example image of dynamic Poser clothes for tutorial mentioned above:

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